NZ Steel returns to profit in first half, export competitiveness still unclear

Sun, 19 Feb 2017

By Pattrick Smellie Feb. 20 (BusinessDesk) - A cost reduction drive, higher global steel prices, and synergies between recently acquired Pacific Steel and the New Zealand Steel plant at Glenbrook have seen a strong return to operating profit for Australian steelmaker Bluescope's New Zealand operations. In the half-year to Dec. 31, Bluescope's New Zealand operations showed earnings before interest, tax, depreciation and amortisation of A$59.4 million, a turnaround of A$74.9 million from the A$15.5 million ebitda loss in the same period a y...

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