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REPORTING SEASON: Arrium Ltd (ARI)

Brought to you by CommSec

 

Figure 1: A Ltd Limited 12 month chart

International mining and material firm, Arrium Limited (ARI) reported its FY13 numbers today.

Arrium’s Underlying Net Profit after Tax of $168Million beat expectations and prior company guidance, thanks to a stronger second half from mining.

The result was impacted by the $480Million write-down and restructuring charges that Arrium had pre-announced on the 4th of July as well as other one off costs.

Arrium, under the management of its new CEO Andrew Roberts today said it would continue to sell off its non-integrated steel businesses & some property assets.

Arrium said it will pay a 2H dividend of $0.03 to be paid on or around 17th October 2013.

 

You can see all of CommSec’s reporting season analysis by clicking here.

Juliana Roadley, Market Analyst,