STU - Steel & Tube Holdings

[artemis]

I am hopeful the company will recover in time, because the scrutiny they have been undertaking looks sensible, rather boring and hard. Streamlining processes, customer interfaces, inventory, assets. A lot of taxpayer money is going to be tipped into infrastructure and some of that should come STU's way. If not, a lot of questions are going to be asked.

[Getty]

Is this co a Steel, or is it going down the Tubes?
$58.1M more write downs.

[Filthy]

Is this co a Steel, or is it going down the Tubes?
$58.1M more write downs.

I was struggling to find very many positives with the latest announcement https://www.nzx.com/announcements/358836 - happy to be indulged though if anyone can see something I cant?
I still wonder what they were smoking when they thought $1.95 was too 'cheap' https://www.nzx.com/announcements/324803
disc: hold small sum (hoping the turnaround story is real....and an increase in gov infrastructure spending flows through.....)

[Getty]

Many a s/holder will rue the passing of the $1.95 offer.

I love the way they trumpet about going digital.
As if thats the panacea for all their ills
Mind you, there cant be much left to take the surgical scalpel to.
I thought the old abacus was reliable low capex item, and always worked in a power cut.

[winner69]

Hey t_j - a $60m loss not that good eh

[Getty]

Maybe the name of the co was a giveaway.
They are still in the IRON AGE.

[winner69]

Touting the strong Operating Cash flow of $39M

Back out change in working capital it was only $8m odd

Can't keep reducing stock etc forever .... might need more working capital during F21 but tha'ts another story

[Getty]

They are seriously looking like scrap metal at this stage!

I've just been to see some undertaker friends, to see if they can organise a decent burial.

Dr JPG.

I bury my mistakes.

[trader_jackson]

Hey t_j - a $60m loss not that good eh

Not so good, but not so bad - at least debt going to be gone soon.
Business still not that great - but at least things probably can't get worse.
Should have taken that $1.95 for sure

[nztx]

Touting the strong Operating Cash flow of $39M

Back out change in working capital it was only $8m odd

Can't keep reducing stock etc forever .... might need more working capital during F21 but tha'ts another story

that was the same story a year or so back with a Cap/Raise to bail them out of the sh*t back then wasn't it ?