BlueScope steels the show
Today Australian steel maker BlueScope Steel Limited (ASX: BSL) upgraded its profit forecast for the six months through December to $230 million, up from prior guidance of $180 million. The company said the stronger performance had been driven largely by earlier delivery of cost reductions, growth in Australian domestic despatches and better margins. BlueScope’s Port Kembla facility recently risked closure, with a review of operations leading to a cost-cutting plan to save $200 million and allow the steel works to remain open. BlueScope shares closed up 9% for the week. We own BlueScope in the investment portfolio.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap (ASX: WMI), WAM Alternative Assets (ASX: WMA), WAM Strategic Value (ASX: WAR), WAM Research (ASX: WAX) and WAM Active (ASX: WAA) - and the Wilson Asset Management Leaders Fund. Wilson Asset Management invests over $5 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the first LICs to deliver both investment and social returns: Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG).
1 topic
1 stock mentioned
Comments
Comments
Sign In or Join Free to comment