Arrium's steel arm back in profit for first time since financial crisis

Australia’s Arrium Mining & Materials saw its steel business post positive operating earnings in the second half of its 2015 financial year on the back of higher shipments, cost reductions and lower ferrous scrap prices.


“The improvement in earnings includes an important milestone for the business, with [earnings before interest and taxes] for the second half being a profit, the first time since the [global financial crisis],” the company said on Wednesday August 19 in its results report for the year ended June 30.

Earnings before interest, taxes, depreciation and amortisation (Ebitda) reached A$46 million ($33.8 million) in the six months to June 30, up from A$16 million ($11.8 million) in the preceding...

Published

Juan Weik

August 19, 2015

12:20 GMT

Singapore