Vulcan raises annual profit forecast a third time

Staff reporters
Tue, 26 Apr 2022

In its third profit upgrade since listing on NZX last November, Vulcan Steel said it now expects annual net profit will be more than 80% higher than foreshadowed in its offer document.The company expects net profit for the year ended June 30 to come in between $136 million and $140m compared with $74m in the product disclosure statement (PDS) – the figures are pro forma and are after taking the new accounting standard for leases into account.In February, the company had forecast a full-year result between $107m and $114m.Vulcan now expect...

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