Steel & Tube Holdings Concludes Going Concern Basis Appropriate After Reviewing Liquidity Position, Shares Fall 9%

MT Newswires Live12:44

Steel & Tube Holdings (NZE:STU) concluded it is appropriate to prepare the company's financial statements on a going concern basis, following a review of group forecasts for the period from July 1, 2026 to June 30, 2028 and an assessment of the achievability of underlying assumptions, according to a Wednesday New Zealand bourse filing.

The company said further mitigants available if financial performance falls below expectations include alternative sources of borrowing, asset sales, further working capital management and additional equity capital, with exploratory work undertaken on these options.

The company's directors are satisfied the group's financing position remains sound and will continue to review its funding requirements in line with evolving business needs to ensure sufficient liquidity to discharge liabilities as they fall due, it added.

The company's shares fell 9% in recent Wednesday trade.

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