NSL's Q2 net profit falls by two-thirds to $4.4 million
NSL, formerly known as Natsteel, has suffered a two-thirds drop in second quarter net profit to $4.4 million from $14 million previously.
This was despite revenue for the three months to June 30 rising by 20 per cent to $126.3 million.
The higher revenue was driven mainly by the construction products division, which reported a 37 per cent growth in revenue.
Pre-tax profit, however, fell by 28 per cent to $8.8 million, due to lower performance from the chemicals, and environmental services divisions, partially mitigated by improved performance from the construction products division.