Steel Mills
February 22, 2016
North Star BlueScope Strong Performer for BlueScope Steel
Written by Sandy Williams
BlueScope Steel is one of only a handful of major steel companies around the world that is reporting profit. Underlying EBIT for the first half of FY 2016 was $166.5 million, up 35 percent year over year..
Commenting on the outlook for the company, CEO Paul O’Malley said, “Notwithstanding a challenging macroeconomic environment, we are benefitting from the significant cost reductions and process improvements we are implementing, we expect 2H FY2016 underlying EBIT to be up to 60% higher than 2H FY2015….Pretty good second half outlook expected for the business.”
