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2011 Annual Report |
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For the year ended 30 June 2011 Steel & Tube Holdings Limited reported a Group net profit after tax of $17.0 million. This result compares to a profit of $5.7 million after tax last yea an increase of 198%. Earnings per share for the year ended 30 June 2011 were 19.4 cents compared to 6.5 cents for the prior year.
As at 30 June 2011 total equity increased by $6.1 million to $152.0 million and total assets by $13.4 million to $231.5 million, compared to $218.1 million in the prior year.
The Group’s debt to equity ratio of 20% continues to be at a level that enables the Group to leverage against its assets if required. The Company is in a sound position.
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| Download Annual Report 2011 (6.6MB) |
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2010 Annual Report |
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The financial result for the year was an after tax profit of $5.7 million compared to $26.1 million the previous year. Included in the result is a one-off charge in tax expense of $4.2 million relating to the budget announcement in May 2010 and in particular to the removal of tax depreciation on buildings. This expense is a non-cash adjustment that has no effect on the Company’s underlying profitability, dividends or cash flows for the year ended 30 June 2010.
Shareholders’ equity of $145.5 million compares with $150.1 million the previous year. Total borrowings during the year have decreased by $11.6 million to $35.9 million with the gearing ratio (debt to debt plus shareholders’ equity) at 19.8%. The Company continues to be in a very sound position.
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| Download Annual Report 2010 (2.0MB) |
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2009 Annual Report |
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The Company announced a full year after tax result of $26.1 million. This is an increase of $3.6 million or 15.9%, when compared with the previous year’s result. Sales at $484 million were $20 million lower than last year.
Previously announced results for the six months to 31 December 2008 were sales revenue of $274 million and net profit after tax of $20.8 million. For the second half of the financial year, the sales revenue was $210 million and net profit after tax was $5.3 million.
The Company’s result represents an EBIT return on year end total funds employed of 21.9% and an after tax return on average shareholders’ funds of 17.9%.
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| Download Annual Report 2009 (4.8MB) |
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2008 Annual Report |
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The Company announced a full year after tax result of $22.5 million. This is a decrease of $5.2 million, or 18.8%, when compared with the previous year’s result. Sales at $504 million were up from $466 million in the previous year. Normalised profit after restructuring and asset sales for the year amounted to $23.3 million.
Restructuring costs for Hurricane Wire Products and the gain from the sale of a property were $1.5 million and $0.7 million after tax respectively. Although the profi t result was less than last year’s, it is pleasing to note that the second half trading profi t improved substantially in a rapidly slowing economy, finishing in line with the guidance given at the half year.
The Company’s result represents an EBIT return on year end total funds employed of 18.9% and an after tax return on average shareholders’ funds of 16.1%.
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| Download Annual Report 2008 |
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2007 Annual Report |
| Awarded the 2007 ACC Thinksafe Workplace Safety Award for the Wellington region. As part of our facilities upgrade plans, we re-located our Hamilton and Mount Maunganui branches in Distribution and Roofi ng and the Wellington Roofi ng branch to new purpose-built leased premises. New Fastening branches were opened in Hamilton, Palmerston North and Mount Maunganui. New Chain and Rigging and Safety Solutions branch opened at Petone. Steel and Tube staff participated in the Cancer Society’s Wellington region ‘Relay for Life’ and raised $10,000. The company matched the amount raised. |
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2006 Annual Report |
Dividends maintained at 32 cents per share. Increase of $25 million in operating cash flows. Early adoption of NZIFRS. Chain and Rigging business acquired August 2005. Stainless Steel Distribution business
acquired April 2006. 2005 Competenz Award for outstanding Occupational Health & Safety practices. |
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2005 Annual Report |
| RECORD PROFIT. Increase of 27% – in EBIT to $58 million and net profit to $36 million. SHAREHOLDERS’ RETURNS INCREASED. Earnings per share increase of 27% to 41 cents. Ordinary dividends per share increased by 5 cents to 32 cents. Return on equity 26.8% up from 22.7%. SAFETY RECORD. Zero lost time injuries for the year. Hurricane Wire Products awarded the COMPETENZ Workplace. Safety Award for 2004. |
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2004 Annual Report |
50TH ANNIVERSARY. 50 years in business since incorporation in December 1953. RECORD PROFIT. 32% increase in after tax profit to $28 million. 34% increase in return on shareholders’ funds. INCREASED SHAREHOLDER RETURNS. Earnings per share increased by 32% to 32.3 cents. Dividends per share increased by 61% to 37 cents,
inclusive of 10 cents special dividend. HURRICANE INTEGRATION. Successful integration benefits group profitability. SAFETY PERFORMANCE.
World-class safety record maintained. |
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2003 Annual Report |
| Highlights: Net profit after tax increased by 18% to $21.5 million. Earnings per share increased by 18% to 24.5 cents. Dividend per share increased by 21% to 23 cents, excluding special dividend from last year. Acquisition of hurricane wire products. Wellington region gold award for workplace safety. |
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2002 Annual Report |
| Net profit after tax increased by 22.8% to $18.3 million. Earnings per share increased by 22.4% to 20.8 cents. An 81% increase to 29 cents in dividends per share inclusive of special dividend. 25% increase in cash flows from trading activities within New Zealand. Acquisition of Pipeline Supplies New Zealand Limited. Zero lost time injuries. |
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| Director’s & CEO’s Reports |
| Financial Statements |
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2001 Annual Report |
| On a comparative basis, net profit after tax increased by 11.6%. Earnings per share increased by 13% to 17 cents. Dividends per share increased by 23% to 16 cents. Coil processing operations enhanced by acquisition of DJ Agencies. $9 million reduction in inventories. Significant increase in profit contribution from steel distribution and processing. |
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2000 Annual Report |
| HIGHLIGHTS: Profit: The after tax profit showed an increase of over 300% when compared to last year. Canadian operations substantially increased sales and earnings. Dividend: Payment of 13 cents in comparison to last year of 8 cents. Successful integration of existing Roofing operations with recently acquired BHP Steel Building Products New Zealand Limited. Internet Business: First steel distribution business anywhere to operate solely through electronic commerce. |
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| Covers, Highlights & Board Of Directors |
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| Financial Statements |
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1999 Annual Report |
| HIGHLIGHTS: Divesting of Engineering Operations. Acquisition of BHP Steel Building Products New Zealand Ltd. This will enhance our established Roofing Business. A J Forsyth & Company Limited: Further operational efficiencies obtained in a very difficult trading environment. Steel Distribution & Processing: Increased sales and market share for value added products in South Island. Metal Fastening operations showed improved results over the year. Continued improvement shown in the Group’s Health and Safety Record. |
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| Covers, Highlights & Board Of Directors |
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| Financial Statements |
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1998 Annual Report |
| HIGHLIGHTS: Steel Distribution and Processing: Increased volumes for value-added products from Coil Processing and Plate Service Centres. A J Forsyth & Company Limited: Achieved significant improvement in profit for the year. Reinforcing and Fabrication: Record profits earned for the period. Obtained certification to ISO 9002. Health and Safety: Further improvement in the Group’s safety record during the period. |
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| Covers, Highlights & Board Of Directors |
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| Financial Statements |
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1997 Annual Report |
| HIGHLIGHTS: Health and Safety: Achieved significant improvement in the Group’s safety record during the period. Bonus Issue: A Taxable Bonus Issue of one ordinary share for each ordinary share on issue at 12 September 1997. Steel Distribution and Processing: Auckland operations of Steel and Tube and Metal Sales relocated to new purpose-built facilities in East Tamaki. Engineering and Fabrication: Southern Cross Hamilton moved to larger and more efficient leased premises. Reinforcing and Fabrication: Record profits earned for the period. A J Forsyth & Company Limited: Extensions completed to Vancouver and Prince George with a plasma cutter commissioned at both locations. |
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| Covers, Highlights & Board Of Directors |
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1996 Annual Report |
| HIGHLIGHTS: Acquisitions: A 51% interest acquired in November 1995 of steel distributor, A J Forsyth & Company Limited, based in British Columbia. In February 1996, the rollforming assets of Metalform (Dannevirke) Limited were purchased. Purchase of Christchurch based Southern Cross Engineering Holdings Limited in April 1996. Relocations: Stewart Steel Christchurch and Fastening Systems Auckland were relocated to new purpose-built leased premises. Employee Shares: The Company’s employees were invited to participate in a Fourth Offer of shares in July 1995. |
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| Covers, Highlights & Board Of Directors |
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| Financial Statements |
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1995 Annual Report |
| HIGHLIGHTS: Record Profit: Net profit after tax of $27.4 million. Dividends: A final dividend of 20 cents per ordinary share recommended bringing total payment over 12 month period to 40 cents per share, an effective 25% increase from 1994. Increase in Sales: A 12% increase in sales from $299.8 million to $335.7 million. Customer Service: Robt Stone achieved certification to ISO 9001 and Merchandising Division achieved certification to ISO 9002. Export Opportunities: Further development of export opportunities in South East Asia. Achievements: One of three finalists in the Company of the Year Awards. Robt Stone presented with Export Achievement Award. |
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| Covers, Highlights & Board Of Directors |
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| Financial Statements |
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1994 Annual Report |
| HIGHLIGHTS: Net Profit: Net profit after tax of $26.3 million*. Final Dividend: Final dividend of 15 cents per ordinary shares recommended, bringing a total payment for 15 month period to 40 cents per share. Increase in Sales: a 33% increase in sales from $275 million to $367 million*. Operating Expenses: Operating Expenses: Operating Expenses contained. Customer Service: Customer service enhanced through the upgrading of service centres and investment in new processing equipment. New Export Opportunities: Development of new opportunities for Robt Stone in South East Asia. (*covers 15 month period ended 1994). |
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| Covers, Highlights & Board Of Directors |
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1993 Annual Report |
| HIGHLIGHTS: APRIL 1992: Acquisition of the Stewart Steel steel merchandising branches. Sale of the ordinary shares in New Zealand Steel Limited. JUNE: Acquisition of Taylor Industries steel roofing and cladding operations. AUGUST: Acquisition by Motorcorp Holdings Limited of Jaguar wholesale cars and parts franchise for New Zealand. OCTOBER: Sale of the four remaining trading businesses of MacEwans Machinery. DECEMBER: Acquisition by Motorcorp Holdings Limited of Archibald and Shorter, Auckland, retailer of Jaguar cars. Announcement of the intended capital restructuring of Steel & Tube Holdings Limited with half the Company’s shares to be cancelled and a payment to shareholders of 60 cents for each share cancelled. Expansion of Merchandising Division computer facilities. MARCH 1993: Extraordinary meeting of shareholders approves resolutions to reduce capital and make payment to shareholders. Relocation to new premises by Steel & Tube Napier Branch. Relocation to new premises and consolidation of Motorcorp Holdings Limited whole-sale and retail activities. JUNE: Announcement of the 1992/93 profit of $12.3 million, an increase of 54% on the previous year. |
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1992 Annual Report |
| HIGHLIGHTS: The profit after tax of $8.0m was 91% ahead of last year’s profit before extraordinary items of $4.2m. This result was achieved despite a 12% drop in sales from $286m to $251m. Although sales in steel merchandising were lower, an improved profit was earned. The contracting operations also had higher earnings, mainly due to a lift in Robt Stone’s performance. Motorcorp Holdings Limited (50% owned) had an unprofitable year, which is a reflection of the prevailing state of the car market. Although economic conditions during the year were difficult, there are signs of some recovery. The Group has been able to reduce its operating costs further and has made savings in interest charges due to significant reductions in working capital levels and declining rates of interest. |
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| Alternatively you can download specific files: |
| Covers, Highlights & Board Of Directors |
| Director’s & CEO’s Reports |
| Financial Statements |