RHI’s H1 profit halves on weak industrials and uneven steel performance
Published: Tuesday, 05 August 2014
The Austrian refractories producer said that sales to some steel, glass and nonferrous metals producing regions had disappointed expectations in the first half of 2014, shaking confidence in the global economic recovery, while fire damage to its fused magnesia plant in Norway was an unlucky stumbling block to raw materials margins.
Austrian refractories group RHI AG saw its profits
fall by nearly 50% in the first half of 2014, as weakness in
the steel industry and
problems with its raw materials operations
continued to hurt the company.
Profits for the six months to the end of June 2014 stood at