Sharechat Logo

Vulcan Steel Limited (NZX: VSL) Trading Update & Earnings Upgrade

Monday 6th December 2021

Text too small?

Vulcan (ASX: VSL, NZX: VSL ), an Australasia-wide industrial product distributor and value-added processor today announced a trading update for financial year ending 30 June 2022 (“FY22”).

Vulcan’s overall revenue is up 35% year-on-year (“yoy”) for the five months to 30 November 2021. The Company’s Steel segment revenue lifted 42% yoy while its Metals segment revenue grew 22% yoy during this period.

Overall sales volume recorded an 11% yoy increase for the same period. Steel volume lifted 12% yoy while Metals volume grew 7% yoy during this period.

The Company also notes there will be fewer trading days in the second half of FY22 compared with previous corresponding period in FY21 due to the timing of public holidays and an additional national holiday in New Zealand.

Vulcan’s Managing Director and CEO Rhys Jones said “Trading has been stronger than anticipated and has been broad-based across all our Australasia business units, especially in October and November as Sydney and Melbourne emerged from COVID19 restrictions. As an industrial distributor and value-added processor, we remain confident of our ability to maintain our high service level and product availability to meet the needs of our growing and diverse customer base.”

Vulcan expects to release its first half FY22 results on Tuesday 22 February 2022.

Please see the link below for details

Trading Update & Earnings Update

Source: Vulcan Steel Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

ArborGen Holdings Limited (NZX: ARB) Updates Market on FY22 Guidance
My Food Bag Group Limited (NZX: MFB) Q3 FY22 Trading Update
ikeGPS Group Limited (NZX: IKE) signs $0.9m deal with tier-1 electric utility
Tower Limited (NZX: TWR) Update on Tonga Volcanic Eruption and Tsunami Event
21st January 2022 Morning Report
Trade Window Holdings Limited (NZX: TWL) TradeWindow and Mastercard teams up
Genesis Energy Limited (NZX: GNE) FY22 Q2 Performance Report
Seeka Limited (NZX: SEK) Seeka announces dividend of 13 cents per share
20th January 2022 Morning Report
Z Energy Limited (NZX: ZEL) Q3FY33 Operating Data