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Showing 1-6 of 6 published briefings.
A galvanizing acquisition lifted volumes and top-line, but base-business margin squeeze, a wider PBT loss and working-capital absorption gutted...
Published 22 April 2026
Read briefingA 19.6% revenue decline pushed EBITDA into the red and a new $50.0m drawdown funded working capital even as operating cash fell 75%.
Published 22 April 2026
Read briefingA cyclical volume shock pushed Steel & Tube into a PBT loss, but a net cash balance sheet and positive free cash flow cushion the drawdown.
Published 22 April 2026
Read briefingA net cash balance sheet cushions the cycle, but a 125% payout ratio and working-capital-heavy operating cash flow strain the quality read.
Published 22 April 2026
Read briefingTrading earnings fell sharply but a working-capital unwind drove the group to a net cash position with no bank debt.
Published 22 April 2026
Read briefingA working-capital release funded debt extinguishment and a net cash position, while H2 earnings visibly softened as the FY22 super-cycle unwound.
Published 21 April 2026
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