Vulcan, an Australasia-wide industrial product distributor and value-added processor, has today released a trading update for the financial year ending 30 June 2022 (“FY22”).
The Company reported an overall revenue increase of 34% year-on-year (“yoy”) for the nine months to 31 March 2022, reaching approximately NZ$700 million (unaudited).
Steel segment revenue lifted 42% yoy and Metals segment revenue grew 21% yoy for this period, with overall sales volume increasing 5% yoy.
The Managing Director and CEO Rhys Jones said that despite disruptions caused by COVID-19 and adverse weather in Australia, the company’s operations and financial performance have remained strong.
A revised earnings forecast for FY22 is outlined in the announcement.
Vulcan’s full year FY22 results will be released on Wednesday 24 August 2022.
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