NZ Steel limits fall in annual earnings on cheaper coal prices, iron sand exports

Mon, 19 Aug 2013

Aug. 19 (BusinessDesk) - Australian steelmaker BlueScope Steel’s New Zealand unit was able to limit a decline in annual earnings with cheaper coal costs and bigger export volumes of iron sands. The New Zealand and Pacific segment, which operates the Glenbrook steel mill, reported earnings before interest and tax of A$42.5 million in the 12 months ended June 30, from A$64.7 million a year earlier. Sales to external customers fell 9.4 percent to A$570 million, and intersegment revenue fell 12 percent to A$111 million. The weaker earnings wer...

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