Should you take profits on this stock – BlueScope Steel Ltd

Strong first half results: BlueScope Steel Ltd (ASX: BSL) delivered a solid net profit after tax (NPAT) of a $359.1 million in first half of FY17 while underlying NPAT surged 203% year on year (yoy) to $360.0 million. Underlying EBIT rallied 162% yoy to $603.6 million driven by better productivity, cost improvements, better steel spreads and North Star acquisition contribution. Free cash flow was $900.5 million during the year ended at 31 December 2016 while the group controlled net debt by $842.1 million to $531.3 million as compared to prior year. BSL paid a fully franked interim dividend of 4.0 cents per share and the group also announced an on-market share buy-back of up to $150 million.

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