Sims metal management (ASX:SGM) say they are planning to capitalise on organic and external global growth opportunities for the rest of the year, after this morning posting a 23 per cent increase on sales revenue for the nine month period to the end of March.
The metals recycling company has also reported a net profit after tax of $122.8 million, which is a 74 per cent improvement on the same period, last year.
The company’s CEO, Daniel Dienst, says the fiscal third quarter results were driven by a stronger contribution from North American metals businesses.
The company’s Australian arm saw a 9 per cent sales increase, with revenue sitting at $975.7 million.
Dienst described the performance as admirable, particularly in light of natural disasters.
In the first six months of the 2011 financial year Sims Metal Management recorded a net profit of $49.3 million.
