Corus reported a £1.27bn loss, in line with analysts expectations, for the first 15 months of its...
Corus reported a £1.27bn loss, in line with analysts expectations, for the first 15 months of its existence. The group was formed by the merger of British Steel and Royal Hoogovens in October 1999.
Losses were blamed on restructuring and related provisions of £1.03bn including the write-down of assets of £701m. Most of these provisions are in respect of measures taken to address the continuing high losses in carbon steel in the UK market, and heavy losses on exported steel.
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