Original article by Matt Chambers
The Australian – Page: 17 & 20 : 22-Aug-17

BlueScope Steel has reported a sharp rise in net profit for 2016-17, to $A715.9m. However, the steel-maker has advised that EBIT for the first half of 2017-18 will fall from $A527m previously to $A422m, due to factors such as the strong Australian dollar and the impact of rising scrap metal prices in the US on its North Star subsidiary. BlueScope has also revealed that Mark Vassella will succeed CEO Paul O’Malley at the start of 2018, and that the company is the subject of a cartel investigation. BlueScope shares fell $A3.08 to $A11.03 on 21 August.

CORPORATES
BLUESCOPE STEEL LIMITED – ASX BSL, NORTH STAR STEEL, CARGILL INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CITIGROUP PTY LTD