13 hours ago
BlueScope FY Earnings Weighed by Global Steel Capacity Glut
BlueScope Steel Ltd. 's full-year underlying profit falls 51%, as a surplus of global steel capacity continued to weigh on prices and higher costs ate into margins.
Underlying profit was 420.8 million Australian dollars ($274 million), while revenue slipped 4.4%, the company said. BlueScope sees underlying earnings before interest and taxes for the first half at A$550 million to A$620 million.
