Sims Metal Management reports growth

24.08.2018 − 

The global recycling group Sims Metal Management has raised its volumes, revenues and underlying results in its financial year 2018. It remains positive about the current year, but "the possibility of further escalations in global trade wars occurring, that could impact commodity prices and volumes, cannot be ignored", the company commented at the release of its annual results. "This uncertainty is clearly a caveat that needs to be considered in the outlook for FY19." Sims Metals Management is active in ferrous and nonferrous metals recycling, e-waste treatment and IT asset disposition in Europe, North America, Australia and Asia. 

In the past financial year ended 30 June 2018, Sims Metal Management generated sales revenue of AUD6.448bn (ca. €4.056bn). This is a 27 per cent increase, which the group attributes to higher volumes and average prices. Net profit after tax was virtually flat at the previous year's level at AUD203.5m (ca. €128m), but the underlying result was up 60 per cent compared to the year before.

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