BlueScope Steel
(ASX:BSL) has enjoyed good results from its turnaround plan lifting underlying net profit to $112.3 million and narrowing the net loss to $82.4 million.
Revenue jumped 10 per cent to $7.98 billion.
Bluescope forecast similar results into the first half of 2015 with further growth in domestic margins and contributions from recent acquisitions.
Lower iron ore prices were impacting on New Zealand iron sands revenue however the company said building construction markets in key global regions were looking positive.
Bluescope reported a net profit of $27 million for the half year ended 31 December 2013
