BlueScope (ASX:BSL) profit hit by steel price decline - Sequoia Direct

24FebFebruary 24, 2020

BlueScope (ASX:BSL) profit hit by steel price decline

[videojs_hls url=’//du7x25at22z7c.cloudfront.net/275311/index_HLSv3.m3u8′ poster=’http://www.finnewsnetwork.com.au/newssystem/Headlines03_360_200224.jpg’]

BlueScope (ASX:BSL) today reported a 1H FY2020 net profit after tax (NPAT) of $185.8 million, down 70 per cent on 1H FY2019, and an underlying NPAT of $199.6 million.

The blame is on the decline in commodity steel spreads which were predicted in August last year.

The Board has approved a 6 cents per share interim dividend and the extension of the on-market buy-back, to buy up to $100 million during 2H FY2020.

Shares in BlueScope (ASX:BSL) trading 4.8 per cent lower at $13.05.

Copyright 2020 – Finance News Network

Source: Finance News Network

Related Posts

16NovNovember 16, 2022

Stocks of the Hour: Bass Oil, Stealth Global Holdings, Archer Materials

16 Nov 2022 - A snapshot of the stocks on the move featuring Bass Oil (ASX:BAS), Stealth Global Holdings (ASX:SGI) and Archer Materials (ASX:AXE).

24JunJune 24, 2020

The Mirvac Group (ASX:MGR) reveals a reduction in value of properties

24 Jun 2020 - The Mirvac Group (ASX:MGR) today announced that its distribution for the year ending 30 June 2020 is 9.1 cents per stapled security.

29AugAugust 29, 2019

Melco Resorts delays plans for Crown Resorts

29 Aug 2019 - Melco Resorts is delaying its full $1.2 billion share acquisition stake in Crown Resorts (ASX:CWN) waiting on conclusion from the inquiry of the NSW Independent Liquor and Gaming Authority.

30DecDecember 30, 2021

Stocks of the Hour: Bega Cheese, Sandfire Resources, Trajan Group

30 Dec 2021 - A snapshot of the stocks on the move featuring Bega Cheese (ASX:BGA), Sandfire Resources (ASX:SFR), & Trajan Group (ASX:TRJ).

04FebFebruary 4, 2020

Stockland (ASX:SGP) Chief Innovation, Marketing and Technology Officer resigns

04 Feb 2020 - Stockland Chief Innovation, Marketing and Technology Officer, Robyn Elliott has annoced her resignation and will leave the company at the end of March.

15SepSeptember 15, 2020

Iberdrola Renewables offers 92 cents per Infigen (ASX:IFN) stapled security

15 Sep 2020 - Iberdrola Renewables Australia announced that its offer price of 92 cents per Infigen (ASX:IFN) Stapled Security in relation to its offmarket takeover offer is its best and final offer.

16FebFebruary 16, 2023

Stocks of the Hour: Critical Resources, Matsa Resources, Goodman Group

16 Feb 2023 - A snapshot of the stocks on the move featuring Critical Resources (ASX:CRR), Matsa Resources (ASX:MAT) and Goodman Group (ASX:GMG).

30DecDecember 30, 2020

Red River Resources (ASX:RVR) starts production at Hillgrove Gold Operation

30 Dec 2020 - Red River Resources (ASX:RVR) has started production at its Hillgrove Gold Operation in New South Wales.

08JanJanuary 8, 2021

Webcentral Group (ASX:WCG) to surrender Sydney office lease

08 Jan 2021 - Digital service provider, Webcentral Group (ASX:WCG) advises that it has signed a heads of agreement in relation to the surrender of its property lease with the landlord of Levels 22 and 23 at 680 George Street, Sydney.

15JanJanuary 15, 2020

New Century Resources (ASX:NCZ) divests minority interest in cattle business for A$9.8M

15 Jan 2020 - Base metal producer, New Century Resources (ASX:NCZ) has sold its 49 per cent interest in the Lawn Hill & Riversleigh Pastoral Holding Company to Waanyi SPC for a total consideration of $9.8 million.