Sims Metal Management
(ASX:SGM) has reported a 194 per cent leap in profit after tax to $203.6 million for the 2017 financial year.
The world’s largest electronics and metal recycler’s bolstered results came from a gain on the sale of property, increased volumes and commodity prices,
Meantime its revenue lifted 9.1 per cent compared to the prior corresponding period (PCP) to $5.09 billion.
As for its earnings before interest and tax in FY17, it recovered from FY16’s loss and hit $201.2 million.
The company declared a final dividend of 20 cents per share fully franked and an unfranked special dividend of 10 cents per share for 2017.
Shares in Sims Metal Management
(ASX:SGM) 6.62 per cent higher to $15.15.
