BlueScope Steel
(ASX:BSL) has reported net profit is up 102 per cent to $716 million, for the full year to 30 June 2017.
The steel maker’s total revenue also grew to $10.757 billion, with all divisions lifting sales on the prior corresponding period.
Underlying earnings before interest and tax made gains of $521.2 million on FY16, coming in at $1.105 billion.
The company has also announced CEO Paul O’Malley will end his 12 year tenure at BlueScope at the end of the year. He will be replaced by current BlueScope executive Mark Vassella.
BlueScope will pay a final full year dividend of 5 cents per share, fully franked and undertake a further on-market buy-back of up to $150 million during the first half of FY18.
Shares in BlueScope Steel
(ASX:BSL) closed 0.21 per cent lower on Friday at $14.11.
