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Vulcan Steel forges a tough 2024, hopes for a brighter 2025

Interest rate cuts have made NZ conditions slightly better, but will take a while to feed through, company says.

The company said that, regardless of the market or inflation landscape, it had struck firmly to cost efficiency.

Dita De Boni Tue, 27 Aug 2024
Key points
  • Revenue: Down 15% to $1.06 billion.
  • Profit: Down 58% to $40 million.
  • Main takeaway: The company's chief executive Rhys Jones has labelled the past 12 months the harshest they've faced for many years. 

Almost exactly like competitor Steel & Tube yesterday, but on a bigger scale, today Vulcan Steel’s full-year results revealed a company doing it tough this year and not expecting things to pick up until calendar 2025.

Vulcan reported volumes down 9% across the business and gross profit dollars per

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Dita De Boni Tue, 27 Aug 2024
Contact the Writer: dita@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Key points
  • Revenue: Down 15% to $1.06 billion.
  • Profit: Down 58% to $40 million.
  • Main takeaway: The company's chief executive Rhys Jones has labelled the past 12 months the harshest they've faced for many years. 
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Vulcan Steel forges a tough 2024, hopes for a brighter 2025
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