New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Steel and Tube (STU) reported a 1H25 loss of -NZ$10m, with steel demand at levels not seen since the 1990s.</li><li>While STU is controlling its controllables, taking cost out of the business, releasing working capital, and managing bad debts well, it has not been enough to offset the deep cyclical trough.</li><li>STU announced the conditional acquisition of Perry Metals Protection (PMC), a market leader in hot dip galvanising. </li></ul>

Steel and Tube (STU) reported a 1H25 loss of -NZ$10m, with steel demand at levels not seen since the 1990s.While STU is controlling its controllables, taking cost out of the business, releasing working capital, and managing bad debts well, it has not been enough to offset the deep cyclical trough.STU announced the conditional acquisition of Perry Metals Protection (PMC), a market leader in hot dip galvanising. 

Steel & Tube Holdings - 1H25 Result—Taking a Dip