BlueScope Steel

BlueScope Steel’s results for the half-year ended 31 December 2012 were, as expected, messy. Both volumes and revenues fell more than 15%, but that was chiefly caused by the wise decision to get out of the export business in the prior financial period. Headline ‘profit’ improved from a half-billion dollar loss in the comparable period last year to a loss of $12m, while the underlying operations eked out a small net profit of $10m. Operating cash flow improved from an outflow of $151m in the same half last year to an inflow of $44m.   H1 2013 H1 2012...

BlueScope Steel’s results for the half-year ended 31 December 2012 were, as expected, messy. Both volumes and revenues fell more than 15%, but that was chiefly caused by the wise decision to get out of the export business in the prior financial period. Headline ‘profit’ improved from a half-billion dollar loss in the comparable period last year to a loss of $12m, while the underlying operations eked out a small net profit of $10m. Operating cash flow improved from an outflow of $151m in the same half last year to an inflow of $44m.

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