21
Feb
04:39
Weaker metal margins slash Sims profit, foresees improvement
Australian metal recycler Sims has reported lower earnings for the first half through December of its 2024 fiscal year (FY24), dragged by lower metal trading margins and inflationary pressure, Kallanish notes.
The firm says its H1 Ebit was down 85.6% to AUD 13.4 million ($8.8m) from AUD 93.3m a year ago. Revenue, however, rose 7.4% to AUD 4.11 billion.
According to the firm, the metal scrap industry faced a challenging market environment througho…
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Anonymous
Very good overview of the weekly steel market.
Anonymous