Ups and downs
A trio of updates from third-quarter trading companies ahead of their June 30 balance dates produced one good, one bad, and one okay.
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Sims Limited
Our Sims Lifecycle Services (SLS) division provides global IT asset disposal (ITAD) services and electronics recycling to enterprises and data centers, with established operations in the United Kingdom, Continental Europe, North America, the Asia-Pacific region and Africa.
SLS is Sims Limited’s IT asset disposition (ITAD) service provider and electronic waste recycler. SLS offers an integrated ITAD and cloud asset management solutions for regional and global clients through our expansive network of global facilities and subcontractor network.
SLS offers a comprehensive and cost-effective service for end of life and redundant electronic equipment and IT assets, ranging from asset refurbishment and resale to responsible recycling.
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News
Sims Ltd’s UK scrap metal business sparks strategic review amid buyer interest
Sims Ltd, the scrap metal recycler, has received inquiries from potential buyers regarding its UK scrap metal business. The company initially announced a review of its UK operations during its annual results briefing and commentary in August. Yesterday, Sims informed the ASX that it had been approached by undisclosed parties interested in the business.
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Bond Street Briefs: SGM, EGG, BLD
Another heavy news day among ASX stocks on Wednesday, including earnings upgrades from companies of very different sizes and a somewhat controversial key hire.
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Profit Surge Puts Sims on Top of the Heap
Scrap metal merchant Sims has beaten market expectations with soaring results that included a 74% surge in December half revenue and a near quadrupling in net profit.
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Sims Weathers Chinese Storm to Post Earnings Lift
Earnings up and more to come says global scrap metal and recycling company Sims Limited - and that’s despite the recent downturn in the pace of activity in the Chinese economy.
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Horses v Courses for Sims, Breville
A successful 2020-21 for two Australian multinationals saw Sims Metal and Breville take different approaches to rewarding shareholders on Tuesday: one upped its dividend, the other slashed theirs.
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Some Bits & Bobs from SGM, KED and ASB
A number of updates emerged after the long weekend, with the headline act coming from metal recycler Sims Ltd, which produced its second earnings upgrade in the past year.
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Sims Climbs up off the Scrap Heap
Shares in scrap metal giant Sims Ltd hit a two year high of $16.90 and closed up more than 8% after the company upgraded its June 30 earnings forecasts.
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Sims Back in the Black, Dividend Back in the Pink
Metal recycler Sims has reinstated its interim dividend, with a 12 cents a share fully franked payout after returning to profit in the six months to December.
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SGM – UBS rates the stock as Buy
Sims' September quarter update disclosed all assets delivered a strong operating income and the company was cash flow positive. UBS believes the end markets are improving for Sims with both ferrous and nonferrous scrap prices rising.
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