2239 GMT - The insolvency of OneSteel in South Australia hasn't shaken Jefferies's bullish view of NRW Holdings, which was a key engineering contractor at the Whyalla steelworks. NRW last week said its Golding unit is owed A$113.3 million by OneSteel and it is confident of being able to recover all of the outstanding amount. Still, it hasn't put a timeline on when that will happen. Analyst Tom Chapman says Golding's creditor status offers some comfort and he retains a buy call on NRW's stock. "Despite a lower margin base, NRW have 95% (of) FY 2025 revenue secured, and have near record order books across the board," Jefferies says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 03, 2025 17:39 ET (22:39 GMT)
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