Feb 22, 2022 / 09:00PM GMT
Operator
Welcome to the Steel & Tube Half Year Results Call. (Operator Instructions) I will now hand the presentation over to the CEO of Steel & Tube, Mark Malpass. Please go ahead.
Mark Roy Malpass - Steel & Tube Holdings Limited - CEO
Welcome, everyone, and thanks for joining us today. On the call is Richard Smyth, our CFO. Today, we'll cover our financial results, our strategic progress over the last 6 months before looking at what we expect for the second half of the financial year.
Moving to the results overview snapshot. Steel & Tube delivered a strong performance in the first half of the financial year with record revenue and earnings. The result has been driven by a couple of factors. Firstly, positive economic activity, driving increased demand for steel across a range of sectors. And secondly, embedded value from the long-term structural changes that we have made that are now delivering sustainable margin improvements.
Profit was $14.3 million for the first 6 months. That's up 253% on the prior comparative period. The Board
Half Year 2022 Steel & Tube Holdings Ltd Earnings Call Transcript
Feb 23, 2022
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