BlueScope Steel H1 Profit Rises, Announces Dividend and Buyback; H2 EBIT Outlook; Stock Falls

BlueScope Steel (BSL) reported a 12% increase in first-half profit to AUD 1.1 billion, driven by higher steel prices and strong demand. The company declared a final dividend of AUD 0.40 per share and authorized a AUD 500 million share buyback. BlueScope provided a cautious outlook for underlying EBIT in the second half due to expected price declines and higher input costs. Shares fell 3.5% post-announcement.