New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<div><div><div><div><ul><li>As expected (given recent guidance), Steel and Tube's (STU) FY24 result was soft.</li><li>Volume and margin stepped lower in 2H24, reflecting underlying demand which STU believes is around GFC levels.</li><li>STU was broadly breakeven in 2H24 after adjusting out one-offs. </li></ul></div></div></div></div>

As expected (given recent guidance), Steel and Tube's (STU) FY24 result was soft.Volume and margin stepped lower in 2H24, reflecting underlying demand which STU believes is around GFC levels.STU was broadly breakeven in 2H24 after adjusting out one-offs. 

Steel & Tube Holdings - FY24 Result — Second Half Blues