Vulcan Steel warns of smaller profit on trickier Ullrich integration

Market conditions remained uncertain, said managing director Rhys Jones. (Image: Vulcan Steel)

Mon, 17 Jul 2023

Vulcan Steel said its annual earnings expectations fell more than previously predicted as it spent twice as much on integrating Ullrich Aluminium into the business. The company said it expected to report net profit was between $86 million and $89m in the 12 months ended June 30, with the cost of integrating Ullrich coming in at $10m rather than the $5m the company had expected. That’s down from the forecast of $95m-to-$109m in Vulcan’s first-half result and the $124m reported in the June 2022 year. The steel and metal dist...

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