BlueScope Steel records $55 million net loss for July-Dec 2011

Summary

Australia’s biggest steel maker, BlueScope Steel, said higher raw material costs, the strong Aussie dollar and reduced local demand resulted in a loss of $55 million for the first half of the 2011 financial year. This compares with a loss of $28 million for the same time in the previous year. Speaking at the half-year results briefing in Sydney, BlueScope Steel’s Managing Director and CEO, Mr Paul O’Malley, said “the result is ‘in line’ with the Company’…

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