New Zealand's largest steel distribution company Steel & Tube has lifted first-half profit by 35 per cent aided by a surge in construction activity.

Net profit was $10.8 million in the six months ended December 31, up from $8.03 million a year earlier, it said. Sales rose 22 per cent to $258 million. Chief executive David Taylor said the results were pleasing against a global backdrop of increasing geopolitical uncertainty, financial market volatility and…