You are here: Home > Steel News > Latest Steel News > BlueScope’s...

BlueScope’s sales revenues up seven percent in H1 FY 2017-18

Tuesday, 27 February 2018 16:34:56 (GMT+3)   |   Istanbul
       

Australian steelmaker BlueScope Steel has posted a net profit of A$441.2 million for the first half ended on December 31 of the financial year 2017-18, increasing compared to the net profit of A$359.1 million in the same period of the previous financial year.

When the same periods are compared, BlueScope's sales revenues increased by seven percent to A$5.47 billion, due to higher steel prices in all segments and increased sales volumes in the Australian Steel Products and New Zealand and Pacific Steel segments. In the given period, BlueScope’s underlying EBIT decreased by 11 percent year on year to A$516.8 million, mainly due to lower spreads with raw material input costs rising more than steel prices combined with higher costs.

For the second half of the financial year 2017-18, the company expects a stronger result overall. After deducting the one-off benefit of the A$32.1 million coal settlement from the underlying EBIT of the first half, the company expects second half underlying EBIT to be around 25 percent higher, subject to market conditions.


Similar articles

BlueScope focuses on further North Star expansion, profit falls in FY 2023-24

21 Aug | Steel News

BlueScope raises earnings guidance for H2 FY 2022-23 amid higher sales, prices

26 Apr | Steel News

BlueScope reports a record profit for FY 2021-22

15 Aug | Steel News

BlueScope reports lower profit, may close New Zealand steel operations

17 Aug | Steel News

BlueScope posts lower profit, warns of coronavirus impact

24 Feb | Steel News

BlueScope’s sales revenues up 9% in FY 2017-18 due to higher steel prices

13 Aug | Steel News

BlueScope increases guidance for underlying EBIT for January-June

15 May | Steel News

BlueScope expects its US operations to benefit from US tax reform

21 Dec | Steel News

BlueScope registers increase in net profit in FY 2016-17

24 Aug | Steel News

BlueScope registers increased net profit in H1 FY 2016-17

20 Feb | Steel News