Market Alert: Strong Nuclear Tensions in South Asia Assessing the Fallout on Global Equity Markets
Vulcan Steel Limited (NZX: VSL) has eased its banking covenants amid continued negative earnings trends in the new financial year. In its quarterly update for the period ending September 30, the company reported a 30% drop in EBITDA to $33.1 million compared to the same period last year. Revenue also fell by 13%, reaching $263.1 million, with sales volumes decreasing by 10% to 57,800 tonnes. Vulcan's stock price dipped 0.23%, trading at $8.70 in early trading. The company remains dual-listed on the Australian and New Zealand stock exchanges.
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