REPORTING SEASON: Bluescope Limited (BSL)
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Figure 1: Bluescope Limited 12 month chart
BlueScope Steel Limited (ASX: BSL) has reported a net loss for the full year ending June 30 of $84 million.
This compares to a loss of more than $1.04bln last year.
The $960 million improvement was driven by factors including its recent restructure and lower material costs.
Underlying net profit came in at $30 million, a $267 million improvement on 12 months ago.
The steel maker expects its performance in the first half of 2014 not to exceed that of the second half of fiscal 2013 due to continuing uncertainty in domestic demand.
Two small acquisitions were announced; Orrcon, a maker and distributor of pipe and tube products and Fielders, a building products group. BlueScope will buy Orrcon and Fielders from Hills Holdings (HIL) for $87.5m