BlueScope narrows net loss as subsidiary plans to grow

Feb 20, 2013 | 04:27 PM | Weilyn Loo

Tags  BlueScope Steel, BlueScope Lysaght Indonesia, roll-formed steel, Paul O'Malley, Willius Suwadana, Lucia Karina, Steel First, Weilyn Loo

SINGAPORE — Australia’s largest steelmaker, BlueScope Steel Ltd., posted an Australian $12-million ($12.3-million) net loss for its fiscal first half, an improvement over its A$530-million loss a year earlier despite an 18-percent dip in revenue to A$3.7 billion ($3.8 billion) from A$4.5 billion.

Melbourne-based BlueScope said it stemmed its losses for the six months ended Dec. 31 by shutting down a blast furnace, halting unprofitable exports and cutting long-term investment at its Port Kembla Works.....

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