BlueScope forging forward
On Monday, BlueScope Steel Limited (ASX: BSL) announced its half year results, reporting an underlying net profit after tax (NPAT) of $360 million, a 203% increase on the prior corresponding period. The Company said the strong growth was generated through productivity and cost improvements, sales growth, improved steel spreads and benefits arising from the North Star acquisition. Following one of Australia's strongest turnaround successes, we expect continued growth in the business, particularly through branded steel products. Shares in BSL closed flat for the week. We own BSL as a market-driven investment in WAM Leaders.
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Matthew has more than 15 years’ experience in the investment industry working as both a portfolio manager and analyst. Matthew is the Lead Portfolio Manager responsible for WAM Leaders.