14
Feb
10:34
Lower steel prices squeeze Sims first-half profit
Australia-listed global metal recycling firm Sims saw earnings plunge 60.11% on-year in the first fiscal half-year ended 31 December 2022 due to margin compression driven by lower steel prices and higher operating costs, Kallanish notes.
Group net profit slipped to AUD 101 million ($70.40m) from AUD 253.2m a year earlier. Revenue also tumbled 10.17% to AUD 3.83 billion from AUD 4.27 billion a year earlier. The company declared an interim divid…
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Anonymous
Very good overview of the weekly steel market.
Anonymous