Sydney, Aug 20, 2007 (ABN Newswire) - BlueScope Steel has delivered a solid full year performance. Earnings for Australia's biggest steel maker more than doubled to $686 million, up from $338 million a year earlier. The result came in slightly behind analysts forecast. BlueScope says the result was due to strong global demand. Back in April BlueScope acquired the distribution business of Smorgon Steel as part of an industry consolidation which also saw OneSteel take over Smorgon Steel. BlueScope experienced its earnings highlight in 2005.

Asciano announced this morning that it's raised its stake in Brambles. The ports operator says it's increased its stake to 2.84 per cent. Extra-ordinary trading activity in Brambles early this month fuelled takeover speculation, this latest move has done nothing to silence those rumours. Brambles is the world's largest supplier of pallets. Brambles produced record earnings in 2006.

And the Financial Review is reporting that Pallinghurst has increased its stake in Consolidated Minerals. According to the paper, Pallinghurst has taken a 5 per cent stake in the manganese miner. The Pallinghurst offer hinges on a 50 per cent acceptance of the 228 million outstanding consolidated shares. The Consolidated board has recommended the Pallinghurst offer over Territory's hostile bid of cash and scrip. Reuters is also reporting this morning that a third party has now entered the bidding process for Consolidated?more on that as it comes to hand. Consolidated Minerals slipped into the red in 2006

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/fnnlnk/R8O83Z3I


Audio Link

http://abnnewswire.net/lnk/T6N7SHYE

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