Vulcan raises annual profit forecast a third time

Vulcan raises annual profit forecast a third time
Staff reporters
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...