UPDATE 1-Australian takeover target BlueScope beats estimate with first-half earnings
SMART Global Holdings, Inc. SGH | 20.85 | 0.00% |
Blackstone Senior Floating Rate 2027 Term Fund Shs of Benef Interest BSL | 12.70 | -1.01% |
Steel Dynamics, Inc. STLD | 180.20 | -1.45% |
Updates with further details from paragraph 2
Feb 16 (Reuters) - Australian takeover target BlueScope BSL.AX on Monday reported a more than two-fold jump in its first-half earnings and beat estimates due to stronger U.S. spreads, higher volumes across key markets, and solid cost performance.
The steelmaker, which rejected a A$13.2 billion ($9.32 billion) buyout bid from SGH SGH.AX and U.S.-based Steel Dynamics STLD.O, posted underlying net profit after tax of A$382 million, topping a Visible Alpha estimate of A$349.2 million.
This compared to A$176.4 million reported last year.
The company declared an interim dividend of 65 Australian cents per share, compared to 30 AU cents announced last year.
($1 = 1.4144 Australian dollars)