{"id":7720,"date":"2012-02-07T13:47:06","date_gmt":"2012-02-07T11:47:06","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-arcelormittal-s-africa-reports-fy-loss-sees-better-q1\/"},"modified":"2012-02-07T13:47:06","modified_gmt":"2012-02-07T11:47:06","slug":"update-1-arcelormittal-s-africa-reports-fy-loss-sees-better-q1","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-arcelormittal-s-africa-reports-fy-loss-sees-better-q1\/","title":{"rendered":"UPDATE 1-Arcelormittal S.Africa reports FY loss, sees better Q1"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* FY diluted headline loss\/shr 13 cts vs EPS of 343 cts<\/span><\/p>\n

<\/span><\/p>\n

* Sees significantly better Q1<\/p>\n

(Adds details, quotes)<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Feb 7 (Reuters) – ArcelorMittal South
\nAfrica Ltd, a unit of the world’s top steelmaker
\n, on Tuesday reported a full-year headline loss, hit by
\nhigher raw material costs and weaker sales, but said it expects
\na better first quarter.<\/p>\n

<\/span><\/p>\n

The steelmaker’s production last year was hit by structural
\nproblems, including a furnace failure at its Newcastle plant, a
\nstrike in the steel sector and a shutdown at its Saldanha Works
\noperation. The Newcastle plant has since resumed full output.<\/p>\n

<\/span><\/p>\n

“We had to contend with unrelenting pressure on operating
\nmargins as production costs climbed 19 percent, while steel
\nprices only rose 12 percent on average,” Chief Executive
\nNonkululeko Nyembezi-Heita said in a statement.<\/p>\n

<\/span><\/p>\n

Globally, steel producers are expected to report a weak
\nfourth quarter on destocking and squeezed margins, underlining
\nthe need for consolidation of the industry.<\/p>\n

<\/span><\/p>\n

Africa’s largest steelmaker reported a diluted full-year
\nheadline loss per share of 13 cents, compared with diluted
\nheadline EPS of 343 cents the previous year.<\/p>\n

<\/span><\/p>\n

Headline EPS are the main profit gauge in South Africa and
\nstrip out certain one-time items.<\/p>\n

<\/span><\/p>\n

The company, which sells 90 percent of its steel in Africa,
\nsaid sales fell 7 percent to 4.7 million tonnes during the year,
\nwhile revenue was up 4 percent to 31.5 billion rand ($4.16
\nbillion).
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* FY diluted headline loss\/shr 13 cts vs EPS of 343 cts * Sees significantly better Q1 (Adds details, quotes) JOHANNESBURG Feb 7 (Reuters) – ArcelorMittal South Africa Ltd, a unit of the world’s top steelmaker , on Tuesday reported a full-year headline loss, hit by higher raw material costs and weaker sales, but said […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7720","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7720"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7720\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}