BlueScope Steel delivers $1b NPAT

Company News

by Rachael Jones

BlueScope Steel (ASX:BSL) reported a FY2019 net profit after tax (NPAT) of $1 billion, and an underlying NPAT of $966.3 million, that's up 17 per cent on FY2018.

Underlying EBIT for the year was $1.3 billion, up 6 per cent or $79 million over FY2018.

This was our third successive full year underlying EBIT above $1.1 billion.

These figures come despite some softening in commodity steel spreads and domestic volumes in the second half, according to the CEO.

The Board has also approved the expansion of North Star business at Delta, Ohio – subject to air permits.

The estimated cost is around US$700 million, commissioning of the expansion is targeted for mid FY2022.

Shares in BlueScope (ASX:BSL) closed -2.56 per cent lower at $12.20 on Friday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.