Monday 6th December 2021
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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.
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