A subdued construction and manufacturing market has affected Steel Tube's half-year profit to 31 December.
The listed company made an after tax profit of $6.4 million in the six months to the end of December, down $2 million on the same period the previous year.
Sales increased by $12.5 million to $202.9 million.
The company says uncertainty in the global economy and a subdued construction and manufacturing environment is having an effect on the sector.
Steel Tube's share price has dropped 3 cents to $2.17 on Thursday.