NZ Steel earnings fall on weaker prices, higher costs

Mon, 19 Aug 2019

By Gavin Evans Aug. 19 (BusinessDesk) - BlueScope Steel’s New Zealand business reported a 28 percent drop full-year operating earnings due to higher input costs and a drop in prices for export steel and vanadium. Sales revenue for the business, which includes BlueScope’s Pacific Island operations, increased to A$888.1 million for the 12 months to June 30, up 7 percent from a year earlier. But earnings before interest and tax fell 28 percent to A$80.6 million. First-half earnings had been 75 percent higher at A$71.9 million, only to plu...

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