Vulcan Steel Ltd. (AU:VSL) has released an update.
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Vulcan Steel Limited reported a 13% decline in revenue to NZ$263.1 million for the September quarter of 2024, with EBITDA dropping 30% amid challenging market conditions. Despite these setbacks, the company is optimistic about future prospects due to improved business confidence following a reduction in New Zealand’s official cash rate. Vulcan has also successfully negotiated a relaxation of banking covenant thresholds to navigate potential prolonged economic recovery.
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