Feb 25, 2021 / 09:00PM GMT
Operator
Good day, and welcome to the Steel & Tube 2021 Interim Results Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to CEO, Mark Malpass. Please go ahead, sir.
Mark Malpass - Steel & Tube Holdings Limited - CEO
Okay. Thank you for joining us today. I'm Mark Malpass, and I'm joined here by Greg Smith, our CFO, who will also take you through the financial section of the presentation.
Turning to Chart 2, we are pleased to deliver a normalized EBIT of $7.6 million, which was slightly above our December 2020 guidance and a 33% increase on the prior first half year. The earnings improvement has been driven by the execution of strategic initiatives, particularly our network consolidation and streamlining, digital investment and structural cost reduction. We've also paid down all our debt and had cash of $23.9 million at year-end to support our growth initiatives.
We had a progressive improvement in trading during the first half with some flow on impact of COVID-19 April lockdown in the
Half Year 2021 Steel & Tube Holdings Ltd Earnings Call Transcript
Feb 26, 2021
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers