Arrium swings to FY profit

By Elizabeth Redman

Arrium expects demand for iron ore to remain strong after reporting record iron ore sales in fiscal 2014 and swinging to a full-year profit, but warned earnings in its steel business will remain subject to margin pressure.

This figure strips out the miner's significant items, $36m in restructuring costs, an $8m asset impairment, $28m in tax adjustments and $19m associated with discontinuance of its steel transformation plan. Revenue increased by 2. 4 per cent to $7. 0 billion in the year.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Read more here: Business Spectator


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