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
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:

BIF - Acquires shares in Hot Lime Labs
RUA - Cann Group granted TGA GMP for Mildura facility
AFI - Invitation to Results Webcast
PFI Share Buyback Programme to Pause
Greenfern Industries Limited ("GFI") - Late Annual Report
FSF - Monthly Allotment/ Redemption Notice
1st July 2022 Morning Report
General Capital Releases 2022 Annual Report
Fonterra, NZX, EEX confirm GDT strategic partnership
BIF - Annual Report 2022