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Business Description: Arrium Limited (ARI, formerly OneSteel Limited) is an international diversified mining and materials company with three key businesses: Arrium Mining, Arrium Mining Consumables and OneSteel Steel & Recycling.
Strategy Analysis: Arrium continues to focus on cash generation and improving returns while investing for growth. Operations are vertically integrated with a focus on cost control, cash generation, improving working capital management and improving business performance. Project Magnet commercialised Arrium's magnetite reserves for producing steel and allows sale of excess hematite ore to global markets. Arrium is heavily leveraged to Chinese growth via its iron ore business and competes to an extent in the global export market with Chinese steel makers. Arrium upped exposure to the mining sector and mining consumables production with the acquisition of Moly-Cop and Alta Steel in 2011, in line with the strategy to diversify away from domestic construction and infrastructure into mining and mining consumables.
Arrium reported a net loss of $447.2m for the half-year ended 31 December 2012. Revenues from ordinary activities were $3.32bn, down 6.3% from the same period last year. Basic and Diluted EPS was (33.21) cents compared to (5.50) cents last year. Net operating cash flow was $127.8m compared to $187.2m last year. The interim dividend declared was 27.0 cents compared with 40.3 cents last year.
Everyone wants their financial affairs to be in the best possible state when they die so that their loved ones can enjoy the benefits of their legacy without dispute or conflict.
The Age 22/05/2013 |
A piece of broker research came out last week that described the budget as a sensible one but an almost suicidal one for a government four months out from an election. Instead of trying to buy votes, it seemed intent instead on putting as many noses out of joint as it possibly could.
The Age 22/05/2013 |
In last week's budget, the government missed what will probably be its last opportunity to make the superannuation system fairer and more sustainable. While the government made some tough decisions, such as reneging on promised tax cuts, one of the fastest-growing expenses is the tax concessions for superannuation.
The Age 22/05/2013 |
Baby, forget the bonus. With tax concessions gone the federal government's budget could also affect your health, writes John Collett.
The Age 22/05/2013 |
Last week's budget was a bit of aho-hum affair on many levels related to superannuation, because most of the changes to the system had been announced back in April. The transfer of the Baby Bonus into an extra (reduced) payment for families eligible for Family Tax Benefit Part A, has drawn the light fairly and squarely on the costs of bearing and raising children. The recent debate about the opposition's Paid Parental Scheme versus the government's less-generous scheme has added fuel to the fire.
The Age 22/05/2013 |
Tradies caught out by the collapse of National Buildplan Group have called for a financial "rescue" package and an investigation into the failure of the company.
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