Australian steelmaker BlueScope Steel has posted a net loss of AU$1.04 billion in the financial year 2011-12 ended June 30, compared to a net loss of AU$1.05 billion in the previous financial year.
When the same periods are compared, BlueScope's sales revenues decreased by six percent from AU$8.96 billion to AU$8.45 billion due to lower sales volume and lower prices. The company produced 4.74 million mt of crude steel in the given financial year, down 30 percent year on year.
BlueScope stated that its net debt reduced to AU$384 million, adding that it expects the total capital expenditure to be approximately AU$300 million for the financial year 2012-13. The company anticipates a continued improvement in financial performance.