STU - Steel & Tube Holdings

[Arbroath]

I think the only reason its not on an MPG like multiple is the difference in gearing but pretty clear the Boards credibility is shot so it will lanquish until they actually put runs on the board...I think they shouldve said more about the $4m c*ck-up which is seriously concerning from a management and systems perspective

[winner69]

That $4m sure is confusing but it looks like they’ve used it to somehow come up with this 20% to 35% increase in F19 EBIT over the restated FY18 Normalised EBIT (excluding Plastics) of $13m.

Wow ...20% to 35% earnings growth is pretty cool stuff ...but not that far off the 47% growth first stated or the 60% growth on the restated numbers

I think they not being completely transparent here.

[steveb]

totally agree with you winner,they tried to get away with a little white lie,somehow got caught and had to come clean

[Beagle]

I am ready to hand out the wooden spoon prize for the most disingenuous company trading update of the week.
Deserves to be trading under $1 and probably will be soon enough.

[Baa_Baa]

I am ready to hand out the wooden spoon prize for the most disingenuous company trading update of the week.
Deserves to be trading under $1 and probably will be soon enough.

It’s only Monday lunchtime, a few others reporting this week.

[Beagle]

It’s only Monday lunchtime, a few others reporting this week.

LOL yes you never know, the week is young and some of the "corporate speak" emanating from many boardrooms lately has been VERY creative.

[winner69]

Tomorrow might see sub $1

[trader_jackson]

Something must be wrong - share price going up again.
I thought we were gonna see sub $1 yesterday winner?
Now going in the opposite direction to sub $1.

[winner69]

Something must be wrong - share price going up again.
I thought we were gonna see sub $1 yesterday winner?
Now going in the opposite direction to sub $1.

That’s good for you ...even BlackPeter might get tempted to have another bite at STU at these prices.

I ask them to clarify this magical $4m - like is it just a notional adjustment to F18 underlying profit (like they say GAAP profit remains unchanged) or whether is an actual additional cost in F19 (because as they said ‘including’ the adjustment F19 ebit is going to be $16m)

No response it

[steveb]

OK now under the $1.00 support level,we know the hound picked it but where to from here?Time to sack the board perhaps.