BlueScope Steel Limited (BSL) which witnessed sales of A$8.01 billion for FY14 representing an increase of 9.8% from that of FY13. BSL also reported for a $246 million lift in operating cash flow and strong balance sheet with 5.5% gearing as at 30 June 2014. The Company recently announced that its Coated & Industrial Products Australia (CIPA) and Building Components & Distribution Australia (BCDA) businesses will be combined into a single segment called Australian Steel Products. The Australian building solutions businesses have been transferred from Global Building Solutions to the Australian Steel Products reporting segment. The Company aims to provide detailed disclosure for the new Australian segment for clarifying the understanding on business earnings drivers. BSL also declared that its turnaround and growth initiatives have set a solid base for a future return to paying dividends.
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