Business Services Industry
Smorgon sinks into the red.
Australasian Business Intelligence, August, 2001
Aug 23, 2001 (The Age
ABIX via COMTEX) -- Australia's Smorgon Steel has announced that it will not pay a final dividend. On 22 August 2001, the steel maker reported a loss of $A247 million for fiscal 2001. The loss was the result of massive writedowns on goodwill, totalling $A327 million. Smorgon joins companies such as Orica, OneSteel and Pacific Dunlop in reporting large abnormal costs in their financial results. Smorgon's MD, Ray Horsburgh, said that dividend payments will resume in the 2002 financial year. Smorgon's share price fell $A0.02 to close at $A0.98.
SMORGON STEEL GROUP LIMITED - ASX
SSX:
ORICA LIMITED - ASX ORI: ONESTEEL LIMITED - ASX OST: PACIFIC DUNLOP LIMITED - ASX PDP: EMAIL LIMITED: ATLAS STEELS LIMITED: PWB...
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