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

‘Game-changer’ – paying for water infrastructure
Finance Turning the Tap

‘Game-changer’ – paying for water infrastructure

A new way ahead exists to pay the huge cost of water infrastructure upgrades.

Pattrick Smellie 15 Oct 2024
Learning to love foreign direct investment
Economy

Pattrick Smellie: Learning to love foreign direct investment

The Government is sprucing up the welcome mat for foreign investment.

Pattrick Smellie 14 Oct 2024
Turning the tap: Water reforms ramp up
Policy Turning the Tap

Turning the tap: Water reforms ramp up

After seven years of wheel-spinning, water reform is accelerating.

Pattrick Smellie 14 Oct 2024
Details of fast-track conflicts of interest released
Policy

Details of fast-track conflicts of interest released

Shane Jones disclosed eight conflicts of interest.

Jem Traylen 11 Oct 2024