Tue. Nov 5th, 2024
Occasional Digest - a story for you

BlueScope is touting a strong result in Australia despite a 2 per cent decline in profits for the first half of the 2024 financial year, as it signals continued expansion plans.

The Australian steelmaker has announced a half-yearly profit of $439 million, a $29 million increase on the second-half profit for the 2023 financial year.

Managing director and chief executive Mark Vassella said North America and New Zealand delivered “softer” results while Asia returned a “solid” result up 17 per cent on the previous six months.

Shareholders will receive a fully franked interim dividend of 25 cents per share and an extension to the share buy-back program.

“From our perspective when you think about the housing shortages in Australia, the migration numbers and the population growth we are seeing we have got a really positive outlook for residential housing in Australia,” Mr Vassella said.

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