Smorgon's earnings soar as tube margins rise
Aug 29, 2005 | 03:04 PM
| Jo Clarke
Australian long-products steelmaker and scrap processor Smorgon Steel Group Ltd. has posted a record annual profit of Australian $88.8 million ($66.6 million), a 96.9-percent increase from the previous year."We have achieved (this profit) as a result of our adherence to a firm price discipline and a strategy of pursuing value over volume in a strong market environment," Ray Horsburgh, Smorgon's managing director and chief executive officer, said. The upward spiral of hot-rolled coil costs has halted, he added, allowing Smorgon's important tube business to....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.