STU - Steel & Tube Holdings

[peat]

yeh its hard to know if there is any taint coming from his departure, the concern being any negligence in the COM COM issue.
a fine wont be terminal but liability arising from any failure could be.

good yield and low PE.
And I think the August price action does look like an ending diagonal which could be quite bullish

[winner69]

Somebody made the comment on Radio NZ Business yesterday that he wasn't fired.

[percy]

Somebody made the comment on Radio NZ Business yesterday that he wasn't fired.

I read it he must have been given a choice.

[percy]

yeh its hard to know if there is any taint coming from his departure, the concern being any negligence in the COM COM issue.
a fine wont be terminal but liability arising from any failure could be.

good yield and low PE.
And I think the August price action does look like an ending diagonal which could be quite bullish

That possible liability could have a very long tail.

[artemis]

I've been to the last couple of ASMs. Overall impression is of a well run company that has run into a couple of potentially serious issues. They were very up front, no glossing over risks or consequences though not all was known at 2016 ASM. Holding.

[mfd]

This could help with the competitive pressure

https://www.stuff.co.nz/business/975...s-abandon-ship

[percy]

This could help with the competitive pressure

https://www.stuff.co.nz/business/975...s-abandon-ship

Another huge shambles.
And yes positive for STU,however the door has been opened for cheaper steel imports from China,and I would expect another company will take up the challenge contacts.
Bert Govan and John Fairhall are very experienced businessmen,so I guess this liquidation is to limit their losses. Don't know who will end up carrying the can,but it will be a very heavy can.!

[winner69]

Oh dear ..another dismal STU update

Half year EBIT down $10m on last year (which was $16m)

New computer system tells them they have heaps and heaps of useless stock. But that is only half the difference, rest being this stupidly difficult market.

No worries we’ll catch up in second half ....they said that last year but didn’t deliver.

https://www.nzx.com/announcements/310418

[winner69]

The number of times they say superior shareholder value is a bit nauseating ....feel sorry for shareholders at the ASM if they keep on saying that in their speeches.

They must believe it though.

[percy]

Oh dear ..another dismal STU update

Half year EBIT down $10m on last year (which was $16m)

New computer system tells them they have heaps and heaps of useless stock. But that is only half the difference, rest being this stupidly difficult market.

No worries we’ll catch up in second half ....they said that last year but didn’t deliver.

https://www.nzx.com/announcements/310418

No surprises here.!