OneSteel says profit halves, outlook challenging February 16,...

OneSteel says profit halves, outlook challenging
February 16, 2010 - 8:52AM
OneSteel, Australia's No. 2 steelmaker, reported a halving of half-year net profit and said the rest of the year would remain challenging, with iron ore and other input costs rising.

The maker of long steel products, such as bars, pipes and rails, said net profit was $117 million in the six months ended Dec. 31, dowm from $228 million a year earlier.

OneSteel shares have advanced 5.5 per cent in the past six months, double the broader market's rise of 2.3 per cent up to Friday's close.

Reuters

http://www.smh.com.au/business/onesteel-says-profit-halves-outlook-challenging-20100216-o3mv.html