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

<ul><li>Steel and Tube (STU) FY24 guidance highlighted continued degradation of the NZ operating environment over the second half of the year.</li><li>STU believes steel demand is now below GFC levels, but near-term forward indicators remain weak and the timing of an eventual recovery remains uncertain.</li><li>STU is well positioned for both a continuation of soft activity as well as any rebound in demand, with further cost-out initiatives, inventory now largely normalised, and net cash on its balance sheet. </li></ul>

Steel and Tube (STU) FY24 guidance highlighted continued degradation of the NZ operating environment over the second half of the year.STU believes steel demand is now below GFC levels, but near-term forward indicators remain weak and the timing of an eventual recovery remains uncertain.STU is well positioned for both a continuation of soft activity as well as any rebound in demand, with further cost-out initiatives, inventory now largely normalised, and net cash on its balance sheet. 

Steel & Tube Holdings - It's Tough Out There