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Business

Marion Rae

BlueScope posts record profit on hot steel

BlueScope Bluescope Steel

BlueScope Steel has posted a record profit and tips a "supportive long-term outlook" for steel.

The steelmaker on Monday reported a $2.81 billion net profit after tax (NPAT) in the year to June, up 135 per cent or $1.62 billion on the year before, on strong demand and higher prices for steel.

Underlying earnings before interest and taxes (EBIT) for the year was a record $3.79 billion.

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