A Very Brief Look At A Leading Steel Stock: Southern Steel

Southern Steel announced its quarterly earnings. Quarterly rpt on consolidated results for the financial period ended 30/9/2008

I thought it was extremely interesting to see how it perform since I do regard Southern Steel as one of the leaders in the steel sector.

Here's the briefest of brief look at how it performed.



Looks really superb if one compares what it earned for the same period last year!

However, as we all knows, looks can be so deceiving at time!

3 months earlier, in August 2008, Southern Steel announced the following set of numbers.


3 months ago, Southern Steel reported net earnings of 202.466 million. It was a bumper time!

In today's earnings, Southern Steel net earnings only totals 65.697 million!

Not looking good at all considering that steel prices and demand has dropped!