Loss expected from NZ Steel on covid shutdown

Fri, 05 Jun 2020

BlueScope Steel’s New Zealand business could post its first half-yearly loss in four years on the back of the country’s strict covid-19 shutdown, Jarden analysts say. The New Zealand Steel and Pacific Steel business may report an underlying loss of A$5.2 million before interest and tax for the six months ending June 30, compared to an A$8.7 million profit a year earlier. That will trim full-year underlying ebit to A$7.7 million from A$80.6 million a year earlier. Jarden said the result would be “unquestionably” weaker and below the firm’s...

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