Juicy dividend in today...
Printable View
Juicy dividend in today...
We should go together for lap dance... mermaid??
Acquired a fleet of trucks and trailers and taken on the drivers
Earnings accretive they say …that’s good
http://nzx-prod-s7fsd7f98s.s3-websit...311/417594.pdf
Hi all. I published an additional column this morning on my Substack, Just the Business, looking at Steel & Tube's latest acquisition with the headline: Steel & Tube's trucking purchase is all about “the last mile”
You can find it here: https://substack.com/@justthebusinessjennyruth
From Stats Nz - In the March 2024 quarter, the actual volume of ready-mixed concrete produced was down 12 percent compared with the March 2023 quarter…….been double decline for 4 quarters in a row now
Market remains subdued and challenging in STUspeak
Mark said last update there will be some easing of macro trends supporting increased activity from Q4 FY24….(that being this June Qtr )
Doubt whether that’s going to happen
Note: OK steel often goes where concrete doesn’t but there’s a strong correlation between ST sales and concrete production ….and STU often quote quote such economic indicators
Fletchers profit downgrade today noted weaker revenues and gross margin pressure in Steel, where end markets have been particularly soft.
Not surprising
STU must be due to come out with some guidance. Financial nearly over so must have a good feel for how much they going to make.
No guidance and Mark won’t be able to come out and say ‘upper end of guidance’ when the result is printed.
Last indication was that they were looking forward to “increased activity from Q4 FY24”
So here’s hoping