17
Aug
03:14
Lower metal sales drag Sims fiscal-year profit
Australian metal recycling firm Sims has reported lower profit for its financial year ended 30 June 2023 (FY23), due to lower metal sales, Kallanish notes.
The group says in a statement that its statutory net profit after tax for FY23 decreased by 69.8% on-year to AUD 181.1 million ($115.45m). The group’s revenue for the year also fell 13% to AUD 8.06 billion.
In addition to lower sales volumes, average ferrous sales prices fell by 14.4% and non-ferro…
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Anonymous
Very good overview of the weekly steel market.
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