Australia's Bluescope shares fall more than 10 percent

SYDNEY Sun Aug 18, 2013 8:11pm EDT

SYDNEY Aug 19 (Reuters) - Shares in Bluescope Steel <BSL.AX fell more 10 percent in early trade on Monday after Australia's largest steelmaker said uncertainty over domestic demand meant its first-half result for 2014 would not better its 2013 second-half result.

Bluescope reported underlying profit, excluding one-off items, of A$29.7 million ($27 million) for the year ended June 30, swinging from a loss of A$237.5 million a year earlier and exceeding analysts' average forecast of A$25.1 million, according to Thomson Reuters Starmine.

The company's shares were down 10.4 percent at A$4.90 in early trade.

($1 = 1.0869 Australian dollars) (Reporting By Jane Wardell; Editing by Richard Pullin)