BlueScope increases earnings guidance

Company News

 
BlueScope Steel Limited (ASX:BSL) has announced it expects underlying EBIT for the 6 months ending 30 June 2016 to be around $270 million. 
 
The update follows previously stated guidance provided by the company in February 2016 of up to $209 million. 
 
Stronger performance has been driven by earlier delivery of targeted cost reduction measures, higher steel and iron prices, better than anticipated Australian domestic despatches and improved margins in the international businesses. 
 
Following a previous announcement to the market of an incident at its North Star plant in Ohio on 7 May, the company has also reported full production has now resumed. 
 
BlueScope Steel Limited reported a net profit of $226.6 million at 31 December 2015.

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