Steel & Tube Holdings Ltd (NZSE:STU)
NZ$ 0.84 -0.01 (-1.18%) Market Cap: 281.21 Mil Enterprise Value: 348.42 Mil PE Ratio: 13.33 PB Ratio: 0.68 GF Score: 76/100
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Preliminary 2020 Steel & Tube Holdings Ltd Earnings Call Transcript

Aug 27, 2020 / 10:00PM GMT
Release Date Price: NZ$0.58 (+3.57%)
Operator

Good day and welcome to the Steel & Tube 2020 Financial Year Conference Call. Today's conference is being recorded.

At this time, I'd like to turn the conference over to Mark Malpass. Please go ahead.

Mark Malpass
Steel & Tube Holdings Limited - CEO

Thank you. Good morning. Look, I'll start with an FY '20 snapshot on Steel & Tube's overall performance for the year. The market environment has been fairly challenging through FY '20. In the first half, we saw reduced vertical construction work and ongoing softness in the stainless steel market. The COVID-19 pandemic has clearly had a significant impact on our second half results, and more than offset some of the promising improvements that we have been seeing from late calendar '19 through to the pre-COVID period in March.

The level 4 lockdown in late March and April, occurred during a traditionally high earnings period for us as a business. Post lockdown, sales have recovered through May and has been closer to prior year for the first -- for the last 3 months of trading through

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