Sims Metal Management provides earnings guidance for FY2016

Company News

by David Chau

Sims Metal Management Ltd (ASX:SGM) excepts its underlying earnings before interest and tax to be between $55 million and $65 million in the second half of this financial year.

The company says the majority of these earnings were achieved during the last quarter of the 2016 financial year.

However, the company is cautious about its near-term outlook due to recent declines in ferrous metal prices.

The company will release its final 2016 financial year results on 25 August.

Sims reported a net loss of $250.1 million at 31 December 2015.

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