Hurt by European troubles, MIM posts 71% drop in net

Article Abstract:

MIM Holdings Ltd. posted a decline of 71% in its net profits for the fiscal first half period ending December 31, 2000. The company posted net profits of A$31.2 million (18.1 million euros) for the period.

MIM Holdings Ltd.

BHP has bad news to report, but investors are looking ahead

Article Abstract:

Broken Hill Proprietary Co. (BHP) is expected to post its second consecutive yearly net loss for the year ending on May 31, 1999. The company's asset sales are expected to be offset by an estimated A$1billion to A$3 billion (634 million euros to 1.9 billion euros) in asset devaluations. Reduced commodity prices and sales will also hurt BHP's figures. BHP is expected to report A$450 million in profits before unusual items.

Comment:

Expected to post second consecutive net loss for year ending May 31, 1999

Australia's BHP plans to sell about half of its steel division

Article Abstract:

Broken Hill Proprietary Co. announced that it was planning to sell off almost A$3 billion (1.85 billion euros) worth of steel assets. The plan is intended to increase the company's profits. Broken Hill is currently refocusing its steel operations on specific markets. The announcement came after the company conducted a five-year review on the prospects of its steel division. Broken Hill is a diversified minerals, energy, and steel firm based in Australia.

Financial management