Profit bounce at NZ Steel on decade-high metal prices

Mon, 16 Aug 2021

The New Zealand operations of Australian steel-maker Bluescope bounced back strongly into positive earnings in the year to June 30, buoyed by the strongest metal prices in a decade and red-hot NZ construction activity.Using its preferred underlying earnings before interest and tax measure for comparing its international operations, Bluescope reported ebit of $130.1 million on its NZ Steel and Pacific Steel operations, compared with a $5.8m loss the previous year.Since 2015, the NZ operations have see-sawed between profitability and questions ab...

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