Vulcan Steel first half profit plunges

The company says trading is challenging. (Image: Vulcan Steel)

Tue, 11 Feb 2025

Australia and New Zealand steel distributor Vulcan Steel says tough economic conditions have driven its first-half profit down 64.8% to $9.2 million.As a result, Vulcan slashed its first dividend by 79.2% to 2.5 cents a share (from 12c).The company’s earnings before interest, tax, depreciation and amortisation (Ebitda) came to $56.9m, down 30.5% from the previous corresponding period.Its managing director and chief executive officer, Rhys Jones, said trading in the first six months of the 2025 financial year was “variable and challe...

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