Vulcan lifts annual profit forecast by up to 35%

Mon, 06 Dec 2021

Newly-listed Vulcan Steel said stronger than expected trading in the five months ended November has led it to upgrade its annual net profit forecast by up to 35%.The company now expects net profit for the year ending June 2022 will come in between $93 million and $100m compared with its prospectus forecast of $74m.The steel distributor said it expects earnings before interest, tax, depreciation and amortisation (ebitda) to come in between $174m and $184m, an increase of between 18% and 25% on the prospectus forecast of $147m.Both the net profit...

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