Arrium's profit slumps 75%
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Mining and steel company Arrium has posted a 75 per cent slump in net profit to $58 million.
The result compare to a $230 million profit for the prior financial year and includes a $125 million writedown of Arrium's LiteSteel beam technology made during the year.
Underlying net profit for the year ended June 30 was $195 million, compared to $235 million.
Arrium was formerly known as OneSteel.