Here is a quick snapshot of the P/L figures released today in relation to Distriubution which has Lysaght in it's fold. Keeping in mind that the $1,000 million loss by the company is being solved by getting rid of it's export section?
|Australian Distribution & Solutions|
The loss of $218 million is nearly a quarter of the total BlueScope loss? Yet get rid of export. The sales revenue for distribution was down 5% yet the EBIT was down 1,917%. Work that one out? Also BlueScope has reported to have the following:
1. BSL has a syndicated loan with big 4 banks of $1.35B
2. $600M of this due in 2013
3. The balance due 2015
4. HRC price futures down at least until Dec 2011
5. $A stable at around $1.04 but may also rise.
Now without making profit - how is BlueScope going to overcome this?
ASX today BlueScope down to 74.5 cents
Hills down to 99.0 cents
OneSteel down to $1.33
Fletchers steady at $6.06
Hills FY11 results out tomorrow?
What else can happen - maybe Tinman & Trevor can jump on a few of these boards & sort them out!