Vulcan Steel records 91% lift in profit following boom in steel and metal prices

It is Vulcan Steel's first full-year result since listing a year ago. (Image: Vulcan Steel)

Wed, 24 Aug 2022

Vulcan Steel's full-year profit increased by 91% while its revenue rose 33% to $972.7 million, up from $731.5m a year earlier.The Australasian steel and metal distributor’s net profit increased to $124m in the 12 months to June 30, 2022, up from $64.8m the year earlier.The profit was ahead of its guidance range of between $93m and $100m issued in April following an increase in demand and prices for steel products, and Vulcan’s share were up 3.7% in early NZX trading at $9.60.Earning before interest, tax, depreciation and amortis...

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