Australia-based mining and materials company Arrium Limited has issued its financial results for the financial year 2014-15 ended June 30.
In the given period, Arrium recorded a net loss of A$1.9 billion compared to a net profit of A$205 million in the previous financial year. The company's sales revenues decreased by 13 percent year on year to A$6.08 billion in the given period, as increased volumes were offset by a lower average selling price.
According to Arrium, Whyalla Port continued to perform well during the year, with the Inner Harbour again demonstrating its capability to load 10 million mt per year.
“The year has been a very challenging one. We recorded stronger performances in both mining consumables and steel as expected. However, earnings for the company on both an underlying and statutory basis were significantly affected by the deterioration in iron ore prices,” stated Andrew Roberts, Arrium managing director and CEO.