NZ Steel earnings best in two years

Wed, 03 Feb 2021

New Zealand Steel is set to report its best half-year result in two years as it benefits from strong domestic construction and cost-cutting started last year.The firm, which operates the Glenbrook mill and Pacific Steel in Ōtāhuhu, reported preliminary earnings before interest and tax of more than A$55 million for the six months ended Dec. 31, parent company BlueScope Steel said.Domestic demand has been “very strong”, particularly for painted and coated products, the Melbourne-based company said in a statement to ASX. Depreciation c...

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