Manufacturer and distributor Steel & Tube Holdings says trading through July and August has been steady across most sectors with an uplift in earnings.
Photo: Supplied / Waka Kotahi
A market update ahead of the company's annual shareholders meeting this morning indicates revenue was up 15 percent in the 34 days to 17 August, while volumes remained steady with last year's levels.
"Whilst local and global economic volatility is expected to continue, Steel & Tube is well positioned to deliver through the economic cycle," the update says, adding steel pricing was expected to remain elevated in the near term.
"Customer activity is anticipated to be steady although in some sectors will moderate off the recent extraordinary high demand levels, as is already being seen."