Bluescope have a profitable operation in Asia which is growing , the New Zealand business is also profitable and a joint venture in North America is profitable despite the subdued conditions there. The Australian business performed poorly but the tough decision has finally been made to shut down the loss making export business and a restructure of the Australian business is in progress. Whilst input costs are currently high i can see the price of iron ore and metallurgical coal coming down with forecast massive new production coming online in a few years from now. So whilst the situation at present is far from good there is hope in my opinion that Bluescope can get back to posting considerable profits in the not too distant future.
BSL Price at posting:
59.7¢ Sentiment: None Disclosure: Held
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