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Steel maker BlueScope in profit plunge – NEWS.com.au
BlueScope in profit plunge, redundancies flagged with NZ restructure
Steelmaker BlueScope has posted a big plunge in full-year earnings, including a $197 million writedown of its New Zealand and Pacific Islands business, which is set to shed jobs under a proposed restructure.The company’s reported net profit for 2019-20 was $96.5 million, down from $1.015 billion last financial year.
The underlying result compared more favourably at $353 million, down from $966 million previously.
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