BlueScope Steel said its fiscal 2012 reported net loss after tax was A$1.04 billion, compared with a A$1.05 billion loss last year. The company said reported net loss after tax includes an impairment charge of A$315 million, as foreshadowed last week. Annual loss per share was 39.1 cents, narrower than 48.6 cents loss in the comparable period prior year.
However, full-year underlying net loss after tax widened to A$238 million, from A$127 million in fiscal 2011.
Sales revenue from continuing operations totaled A$8.45 billion, versus A$8.97 billion a year before, down by 6%.
BlueScope is now structured into four main businesses namely BlueScope Building Products; BlueScope Global Building Solutions; BlueScope Australia and New Zealand and in the US, North Star BlueScope Steel. In addition, the board has decided that there would be no final ordinary dividend.
For the the first half of fiscal 2013, the company sees a continued improvement in financial performance with an underlying net after tax loss before period-end net realisable value adjustments approaching breakeven.
BlueScope's Managing Director and CEO, Paul O'Malley said, "In FY2013, total capital expenditure for the group is expected to be approximately A$300 million with a third to be invested on growth projects."
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by RTT Staff Writer
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