Arrium swings to H1 profit
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Arrium (ARI) says it is well placed to benefit from its investments in the mining business, cost reductions and a sustained lower Australian dollar after swinging to a first-half profit.
Net profit was $220.4 million in the six months to December 2013, compared with a net loss of $448 million in the six months to December 2012.
Revenue lifted by seven per cent to $3.64 billion in the half, compared with $3.40 billion in the prior corresponding period.
The group will pay a dividend of six cents per share, unfranked, on or around April 17 to shareholders on the record at March 14.
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