The part of BlueScope that includes the Port Kembla steelworks has done “an excellent job" in boosting the company’s bottom line.
But the strong performance needs to continue to guarantee the gates at Port Kembla remain open.
On Monday BlueScope announced a $516.8 million before tax profit – the third-straight half-year profit over $500 million.
“BlueScope is very well-positioned and we have both an appetite and capacity for growth,” new CEO Mark Vassella said.
“There are many organic growth opportunities across our portfolio of businesses and we place a strong focus on sustainability, innovation and diversity as we implement our plans.”
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The Port Kembla steelworks is part of BlueScope's Australian Steel Products division.
While the divisional income of $261.7 million was down five per cent compared to the same time last year, the sector is still in the black.
In a statement to the Australian Stock Exchange, the steelmaker said much good work had been done since the steel crisis of 2015.
“The Australian steelmaking business has done an excellent job in boosting profitability in the last three years,” the release stated.
“The business delivered good results in the first half of financial year 2018, however we must not be complacent in our pursuit of continued productivity improvements particularly having regard to energy cost pressures.
“We need to deliver returns necessary to support a decision in 10 to 15 years to reline the blast furnace.”