STU - Steel & Tube Holdings

[winner69]

So even on a normalised basis without counting the bad stuff they might make $2m ebit in H2 when they said a few months ago they were on track to making $17m (to get full year to $31m)

Market has got heaps more competitive eh

Lesson / tip - never believe ANY company who says they will recover lost ground in the second half of the year. It rarely happens.

[winner69]

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

Snoops - hope the Allied announcement next week is not as sad

[BeeBop]

I managed to make a bit of money out of STU over the years but I cut away from them a couple of years ago as nothing was really changing there - too predicable and sad.

[winner69]

Hope not too many punters hurting today

Bit bored today and WINX.AU is in hiatus so got my punting money out and got some STU this morning at average under 150

might be a long time shareholder from here ....ha ha

But watching the action closely

[winner69]

Malpass said he hoped the market hadn't lost faith in the company,

http://www.sharechat.co.nz/article/3...s-drop-21.html

Shares didn’t quiet down to where they were last century

[winner69]

Study in US showed about 20% of reported corporate profits are eventually ‘reversed’ ....ie they never really existed in the first place when they write down asset values and restructure and have to make adjustments for inventory and debtors and a whole lot of other stuff ...all abnormal non-recurring items of course

STU have made about $150m npat over the last 9 years and now going to make one off non-cash adjustments/writeoffs of about $40m ...pretty good effort eh

[winner69]

Hope not too many punters hurting today

Bit bored today and WINX.AU is in hiatus so got my punting money out and got some STU this morning at average under 150

might be a long time shareholder from here ....ha ha

But watching the action closely

Made 11 cents or so and out at the moment.

WINX.AU gives better odds but no money back guarantee there

[percy]

Ugly...............................

[winner69]

Ugly...............................

STU as a ticker code always reminds me of Stu on kids TV in the 70’s. He was an icon that guy.

Can’t say ‘Nice one Stu’ with this outfit can we

[percy]

STU as a ticker code always reminds me of Stu on kids TV in the 70’s. He was an icon that guy.

Can’t say ‘Nice one Stu’ with this outfit can we

Certainly not a 'Nice one Stu.'
Turnarounds usually take longer, and cost more than anyone expected.