Steel & Tube Holdings Limited 2017 Half Year Results

Appendix 1
Reporting Period
Previous Reporting Period
Revenue from ordinary activities
Tax expense - operating income
CommentsRefer to separate attachment
Record date17 March 2017
Payment date31 March 2017
The financial statements attached to this report have been
reviewed.
Interim dividend9.0 cents3.5 cents
Supplementary dividend1.58 cents
Net tangible assets per share$1.49$1.59
Amount per securityImputed amount per
security
Profit after tax attributable to security holders10,584 (33%)
Current yearPrior year
254,470 (4%)
Profit before tax14,586 (27%)
4,002 (4%)
Steel & Tube Holdings Limited
Results for Announcement to the Market
6 months to 31 December 2016
6 months to 31 December 2015
Amount ($000)Percentage change

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APPENDIX 7 - NZSX Listing Rules
Notice of event affecting securities
Number of pages including this one
NZSX Listing Rule 7.12.2. For rights, NZSX Listing Rules 7.10.9 and 7.10.10.(Please provide any other relevant
For change to allotment, NZSX Listing Rule 7.12.1, a separate advice is required. details on additional pages)
Full name
of Issuer
Name of officer authorised to
Authority for event,
make this notice
e.g. Directors' resolution
Contact phone
Contact fax
numbernumberDate
Nature of event
BonusIf ticked,
Rights Issue
Tick as appropriate
Issue
state whether:Taxable
/ Non TaxableConversionInterestRenouncable
Rights IssueCapitalCallDividend
If ticked, stateFull
non-renouncable
change
X
whether:
Interim
X
YearSpecialDRP Applies
EXISTING securities affected by this
If more than one security is affected by the event, use a separate form.
Description of theISIN
class of securities
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Description of theISIN
class of securities
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Number of Securities toMinimum
Ratio, e.g
be issued following eventEntitlement
1 for 2 for
Conversion, Maturity, Call
Treatment of Fractions
Payable or Exercise Date
Enter N/A if not applicable
Tick if
provide an
pari passu
ORexplanation
Strike price per security for any issue in lieu or date
of the
Strike Price available.
ranking
Monies Associated with Event
Dividend payable, Call payable, Exercise price, Conversion price, Redemption price, Application money.
Source of
Amount per security
Payment
Excluded income per security
(only applicable to listed PIEs)
SupplementaryAmount per security
Currencydividendin dollars and cents
details -
Listing Rule 7.12.7
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TaxationAmount per Security in Dollars and cents to six decimal places
In the case of a taxable bonusResident
Credits
issue state strike priceWithholding Tax(Give details)
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Record Date 5pmApplication Date
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Notice DateAllotment Date
Entitlement letters, call notices,For the issue of new securities.
conversion notices mailedMust be within 5 business days
of application closing date.
20171703
$$0.006250$0.035000
$
NZ Dollars$0.015882
$8,152,922.34
Date Payable
31032017
In dollars and cents
90,588,026ordinary shares
9cents per share
Ordinary SharesNZSUTE0001S5
(04) 570-5000(04) 569-42181602
EMAIL: announce@nzx.com
1
STEEL & TUBE HOLDINGS LIMITED
J E ElrickDirectors' Resolution
2017

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1


NZX and Media Release

17 February 2017

Steel & Tube first half-year financial results
For the half-year ended 31 December 2016

Results overview
Revenue
$254 million, down 4 per cent from $266 million
Net profit after tax (NPAT)
$10.6 million, up 7 per cent on prior underlying
earnings
Cash flow from operations
$14.0 million, up 49 per cent from $9.4 million
Net tangible assets per share
$1.49 cents per share, down from $1.58 per share
Interim dividend
9 cents per share
Comparisons are with the prior corresponding six month period ended 31 December 2015

Steel & Tube chief executive Dave Taylor said profit for the half was consistent with expectation.
“This is against a volatile global steel and intensely competitive domestic trading landscape.
Even though residential construction activity improved, non-residential construction by floor area dropped by
20 per cent during the year ending December 2016, contributing to domestic steel volumes remaining some
13 to 15 per cent below the peaks experienced in the 2004/5.
While Steel & Tube maintained its price leadership position, others favoured volumes over price
management.”
“In terms of the performance of acquisitions, S&T Stainless and MSL are performing well, while S&T
Plastics took the opportunity to prepare the plant and increase capabilities in advance of several contract
commitments worth in excess of $27 million for calendar year 2017. This impacted profitability by $1.2
million after tax. Our newest addition to the Steel & Tube stable, Composite Floor Decks Limited (CFDL)
which was acquired at the end of October had two strong trading months.”
“We continue to drive to modernise the business in terms of facilities, equipment, systems, and these
activities are ongoing, ensuring we continue to deliver products most cost effectively and efficiently and with
a continued focus on a united approach to customers. The first stage of the systems alignment has been
completed, and that has enabled some costs to be removed, with more alignment to come over the coming
years.
We expect the second half will be stronger than the first half reflecting the pricing opportunity. In addition,
contracts recently awarded to S&T Plastics, the benefits of cost reductions and CFDL performance through
the next six months will deliver improved earnings, said Mr Taylor.”
For further information please contact:

Tanya Katterns
Communications Manager
04 570 5048

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[ENDS]

Note for editors:

Steel & Tube is New Zealand’s leading provider of steel solutions and a proud New Zealand company with
over 60 years of trading history in this country.
With a national network of branches and distribution centres, S&T engages in markets and projects across
infrastructure, construction (commercial and residential), heavy and light engineering, energy,
manufacturing, viticulture and rural sectors.
The company distributes and manufactures steel products – from nuts, bolts, nails, piping, roofing and farm
fencing, to the largest structural steel products used in commercial construction, such as purlins, girts, joists,
universal beams and seismic mesh.
S&T’s stable of best-in-class businesses are leading suppliers of stainless, engineering steel, fastenings,
and irrigation products and services in the country.
They include S&T Stainless, Manufacturing Suppliers Ltd (MSL), S&T Plastics and Composite Floor Decks
Limited (CFDL).
More information is available on S&T’s website: www.steelandtube.co.nz and
www.stainless.steelandtube.co.nz