-
31-08-2016, 06:50 PM
#121
Wonder if this will get off the ground?
http://www.steelclassaction.co.nz/
Last edited by winner69; 31-08-2016 at 06:54 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
-
17-11-2016, 04:12 PM
#122
Attended the ASM today. Couple of things, three counting a substantial lunch. First, the company has had no contact at all from the lawyers initiating the class action. Secondly, the impact (so to speak) of the earthquake was mentioned as a source of revenue going forward. Specifically mentioned was the viticulture industry at the top of the South Island, where some 100 stainless tanks will need to be replaced.
More about quality issues in the CEO's address, link below, though the earthquake was a late addition.
http://steelandtube.co.nz/investor/m...-november-2016
-
17-11-2016, 08:26 PM
#123
There were a few items that look to be positives from the AGM slides.
STU noted they were providing "value add" products to the UC regional science and innovation hub. I'm not sure if it was raised at the AGM but the lead contractor on this project is Fletcher Building. I'd have thought FBU would keep the work in-house so the STU sales team is doing something pretty well to even have an involvement in the project.
Last year STU noted one of the causes of the reduced profitability was lower steel prices. The slides showed the beginnings of an unwind of low steel prices which could (should?) assist profitability. If the market selling price go up, the profit margin on existing inventory should improve. As a distributor clipping the ticket on the way through, higher prices mean the same percentage margin provides a higher dollar contribution.
Disc hold
-
05-12-2016, 10:47 AM
#124
Commerce Commission to prosecute Steel and Tube.
http://www.nzherald.co.nz/business/n...ectid=11760533
Disc: Not holding
-
05-12-2016, 11:57 AM
#125
SP has really tumbled this morning, but on no real reason. The market release is that the commerce commission intends to prosecute on the grounds of unsubstantaited claims on meeting the standards, not that a prosecution has been successful. Even if STU were to lose, and even that is doubtful, that the earnings would be impacted by as much as the SP drop. STU claim that the mesh did, and does, meet the standard as shown by independant tests, but it is the testing method that differed.
MBIE has now given a testing method that everyone is happy with, so even if STU do get prosecuted successfully any penalty is likely to be minor
-
05-12-2016, 12:32 PM
#126
Member
Originally Posted by Jantar
MBIE has now given a testing method that everyone is happy with, so even if STU do get prosecuted successfully any penalty is likely to be minor
The Court imposed no penalty on NZX in the Ralec litigation, but NZX had to fork out $10 million for lawyers and pay for a settlement that avoided an appeal. The least-cost approach could be for STU to plead guilty at the first opportunity, cop a minor penalty, and suffer a few blushes.
-
20-12-2016, 08:16 PM
#127
It looks like Mr Market has endorsed my belief that the SP drop was too much and too fast. Only two weeks later and it is now above the level it wa at when the announcement was made. Glad I held
-
19-01-2017, 11:05 PM
#128
-
20-01-2017, 01:48 PM
#129
Originally Posted by stoploss
The Contractor in chief for Christchurch was Fletchers. I suspect you will find that almost all mesh used in the rebuild was supplied by FBU, not STU.
-
20-01-2017, 02:31 PM
#130
Originally Posted by Jantar
The Contractor in chief for Christchurch was Fletchers. I suspect you will find that almost all mesh used in the rebuild was supplied by FBU, not STU.
Fletchers were Contractor in Chief of repairs only
Rebuilds (new houses) were open market
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Tags for this Thread
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks