Scrap metal recycling company, Sims Metal Management (ASX:SIM)
expects first half FY19 underlying EBIT of about $110 million.
The company's first quarter result was at the upper end of its guidance range between $58 and $63 million.
CEO and MD, Alistair Field says the first half has been challenging for all recycling companies globally and will continue to be so for the near future.
In an announcement to the ASX in November last year the company said it expected ferrous volumes for the full year 19 to exceed the prior year.
Shares in Sims Metal Management (ASX:SIM)
closed 4.99 per cent higher at $10.9