Australian steelmaker BlueScope Steel has posted a net profit of AU$1.56 billion for the financial year 2017-18 ended on June 30, compared to a net profit of AU$715.9 million in the previous financial year.
BlueScope's sales revenues increased by nine percent year on year to AU$11.49 billion, due to higher steel prices across all segments and higher dispatch volumes partly offset by unfavorable translation impacts from a stronger Australian dollar exchange rate.
The company currently expects its underlying EBIT in the first half of the 2018-19 financial year to be around 10 percent higher than the second half of the 2017-18 financial year, which was AU$745 million.