BlueScope Steel Limited
(ASX:BSL) has reported a huge turnaround in its fortunes. First half net profit of $107.4 million is 116 per cent up on the same time last year.
CEO Paul O’Malley said the company has continued to invest and grow the premium branded steel business which has seen a strong impact on results.
A relentless focus on cost reductions and full ownership of North Star has helped the bottom line with expectations of the trend to continue.
BlueScope Steel will pay an interim dividend of 3 cents per share and says it expects second half EBIT to be up to 60 per cent higher than the previous second half.
