Bluescope Steel expects the coronavirus pandemic to impact its second half earnings. Image by Dean Lewins/AAP PHOTOS

Mining and Resources

BlueScope flags earnings hit from virus

2020-07-18 09:48:56

BlueScope Steel expects full year earnings before interest and tax to be around $560 million, with second half earnings around $260 million.

Australia’s largest steel maker had withdrawn its earnings guidance in March following the uncertainty due to the coronavirus pandemic but had previously forecast earnings of $302.4 million for the six months ending June 30.

The company also said it would record an impairment of $200 million after reviewing the carrying value of its New Zealand and Pacific Steel business.