May 14, 2018 / 10:41 PM / 6 days ago

Australia's BlueScope hikes H2 underlying EBIT guidance on strong U.S. performance

May 15 (Reuters) - Australian steel maker BlueScope Steel Ltd on Tuesday raised its guidance for underlying earnings before interest and tax (EBIT) for the second half by 12.2 percent, helped by stronger margins at a facility in the United States.

The firm said underlying EBIT for the six months ended June 30 is now expected to be A$680 million ($511.90 million), compared to prior guidance of A$606 million, attributing the upgrade to higher margins on steel from its North Star mini-mill in Ohio. ($1 = 1.3284 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru; Editing by Sandra Maler)

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