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Bluescope predicts net loss for second-half of FY2011
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Melbourne-based BlueScope predicted to deliver a break-even report for its net profit in the second half to June 2011 on February 21st.
However, today the company said that the earnings for the second half of fiscal year 2011 would result in a small net loss after tax due to the rising Australian dollar, weaker steel prices and lower demand.
Last month, the global steel prices fell again while demand in the domestic distribution; at the same time, pipe and tube markets had been weak as well.
News Date
5/12/2011 11:34:06 AM
reported by
Cathy Tai
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