Freshly-listed Vulcan records 85% first-half profit rise

Fewer trading days in the second half mean Vulcan is expecting second-half volumes to be lower. (Image: supplied)

Thu, 10 Feb 2022

Vulcan Steel lifted first-half revenue 35% with sales volumes up 10%, leading to an 85% jump in net profit and is again upgrading its forecasts for the full year.In its maiden result as a listed company, Vulcan said net profit for the six months ended December was $53.9 million compared with $29.1m in the same six months a year earlier on sales of $463m.Excluding the one-off costs of listing, the net result was $69.7m.Earnings before interest, tax, depreciation and amortisation (ebitda) came in at $102.4m, up 71%, and would have been $118.1m wi...

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