STU - Steel & Tube Holdings

[winner69]

Any property sale ramifications not relevant to the upcoming announcement ..it’s about financial performance performance etc

Guidance was -

•Excluding the one-off inventory valuation adjustment included in the half-year earnings guidance, full year EBIT for the 2018 financial year is expected to be materially the same as the 2017 financial year EBIT of $31.1 million, as the impacts from recent price changes and the benefits of change actions are realised.

So the expected better second half won’t eventuate (again) and there is a few other demons in the business

[Balance]

Any property sale ramifications not relevant to the upcoming announcement ..it’s about financial performance performance etc

Guidance was -

•Excluding the one-off inventory valuation adjustment included in the half-year earnings guidance, full year EBIT for the 2018 financial year is expected to be materially the same as the 2017 financial year EBIT of $31.1 million, as the impacts from recent price changes and the benefits of change actions are realised.

So the better second half didn’t eventuate (again) and there is a few other demons in the business

What a freaking mess the whole property construction and development sector in NZ has been.

FBU, STU, MPG, MVN - yuk!

[winner69]

Sounds like H1 is going to be a lot worse that $10m less than last year as they indicated a while ago.

[winner69]

Hard to believe share price was over 260 last July ....outlook was have been bright back then

[winner69]

There is a few positive things in the announcement so besides a huge loss for F18 and breach of banking convenants and having a computer system that doesn’t seem to work the new and refreshed management team are on to it and the future is all honky dory

If you can actually work out what’s going on from this announcement you are pretty clever
http://nzx-prod-s7fsd7f98s.s3-websit...333/279695.pdf

[waikare]

No no percy ......not again surely ....but this sounds a bit ominious -

The halt is to allow for STU’s board to complete a review of the company's financial performance year to date and consider certain other factors that are likely to impact on earnings guidance previously provided to the market.

Wonder what’s happened to the rumours about corporate activity

Trading halt lifted 8.52am, no other details...……………..

[Jantar]

There is a few positive things in the announcement so besides a huge loss for F18 and breach of banking convenants and having a computer system that doesn’t seem to work the new and refreshed management team are on to it and the future is all honky dory

If you can actually work out what’s going on from this announcement you are pretty clever
http://nzx-prod-s7fsd7f98s.s3-websit...333/279695.pdf

What it tells me is to get rid of the last few STU shares I still own.

[JoeGrogan]

There is a few positive things in the announcement so besides a huge loss for F18 and breach of banking convenants and having a computer system that doesn’t seem to work the new and refreshed management team are on to it and the future is all honky dory

If you can actually work out what’s going on from this announcement you are pretty clever
http://nzx-prod-s7fsd7f98s.s3-websit...333/279695.pdf

Wow that is nasty... pretty much sums up the construction sector in NZ.

[Snoopy]

If you can actually work out what’s going on from this announcement you are pretty clever

This is really sad and it looks like I may have had a lucky escape. I was an indirect shareholder in STU for many years through my shareholding in ASX listed Arrium. I considered buying a serious direct sized STU stake, just to take advantage of the imputation credits that I wasn't getting with my Arrium holding. What put me off was how relatively unprofitable the Arrium held steel supply business on the Australian side of the Tasman was. I became uneasy that if they couldn't make a really good go of it 'over there', why are we in a much smaller market so much more profitable? What today's event tells me is that, fundamentally the steel supply business is tough on both sides of the Tasman.

SNOOPY

[winner69]

Wow that is nasty... pretty much sums up the construction sector in NZ.

Not all bad - Metro Glass still going solidly and haven’t had announcements like this