Who can you believe ? Six months to December 31, 2015 Whyalla...

Who can you believe ?

Six months to December 31, 2015 Whyalla Steel supposedly lost $43m. Since then Steel prices have improved significantly, Federal Government brought forward Arrium rail orders for ARTC line upgrades, Government have put tariffs on imported steel product which Whyalla steel produces the billet feed for, planned redundancies have been executed and paid for, contractors and suppliers have offered considerable savings and the punting of Roberts, James and Edler has seen a reduction in wasteful overheads.

Could be a small profit or could be a good profit, if I were managing the company and asking employees to take a 17% pay cut I would be forecasting a small profit at best.

Due to the lack of information since the February half year meeting I wouldn't be assuming anything, the whole Arrium debacle points to the fact that you can't really trust anyone with your cash especially those very wealthy Corporate types with a legal or financial background.