Ann: BlueScope increases 1H FY2022 earnings guidance, page-12

No worries, aren't we all. Good point about the share split. Highlights how cheap BSL is. I note its on a fy23 forecast p/e of around 10 which seems around right if not moderately (0%-40%) undercooked. However in the interim BSL will be generately massive FCF which can be used for buy backs, increased dividends, paying down debt, potential M&A, business expansion etc. North Star expansion is expected to be completed by June next year which will increase its production by around 35% if my old calculations are correct. One of the most profitable mini mills in the USA. Also interesting to read about Vulcan Steel's IPO next month. It is going to list on an FY22 p/e of 13.2 whilst we are on an FY22 p/e of 4.5. We have better scale and operations in the US and Asia which Vulcan does not. Why should it command a 200% premium..?