Vulcan shows nerves of steel as profit tanks

Vulcan shows nerves of steel as profit tanks
Vulcan Steel's profit has declined by 55%. (Image: NZME)
Victoria Young
Dual-listed metals firm Vulcan Steel has posted a better-than-expected result driven by cost containment.Like Steel & Tube, which reported yesterday, Vulcan Steel has suffered lower volumes because of a slowdown in the market.Global steel prices have declined 4% in the 12 months to June 30, compared with the year prior.Vulcan reported revenue at $1.06 billion, 15% down from $1.25b in the prior 12-month period. The company said this was because of lower volume and average selling prices compared with the previous year.Net profit after t...

More Infrastructure

'Meth' ministry moves: staffing data sought for four-way merger
Infrastructure

'Meth' ministry moves: staffing data sought for four-way merger

Work is progressing on a four-ministry merger with the pejorative nickname ‘Meth’.

Dileepa Fonseka 14 Oct 2025
Aratere sold for scrap, price deemed commercially sensitive
Infrastructure

Aratere sold for scrap, price deemed commercially sensitive

The Aratere ferry has been sold to a specialist recycling shipyard in India for an undisclosed amount.“Details of the sale price are commercially sensitive,” Duncan Roy, executive general manager of Interislander, said.  The ferry was retired last August to make way for the port...

Rebecca Howard 10 Oct 2025
Govt looks to put its Chorus investment on the block
Infrastructure

Govt looks to put its Chorus investment on the block

The finance minister said there's no policy reason for Govt to hold Chorus securities.

Rebecca Howard 10 Oct 2025
Global coalition to stop building the same road twice
Infrastructure

Global coalition to stop building the same road twice

You get $4 in benefits for every $1 invested in infrastructure resilience, CDRI says.

Dileepa Fonseka 06 Oct 2025