BlueScope Steel ASX News

Matterofspace020 Feb, 2024Business

In a challenging economic scenario marked by slow growth, surging inflation, and rising interest rates, Australian steel manufacturing giant BlueScope Steel ASX reported a sharp profit fall for the first half of the financial year. The company?s statutory net profit after tax witnessed a 27% decrease, falling to $429.3 million from $599 million. This was coupled with a notable dip in revenue from $9.36 billion to $8.59 billion year-over-year.