Sims Ltd. (AU:SGM) has released an update.
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Sims Limited has announced expectations of a slightly lower Underlying EBIT for the second half of FY24 compared to the first half, citing market volatility, competitive pressures, and freight costs. North America Metal is predicted to show improved performance, while SA Recycling and ANZ Metal struggle with reduced demand and margins. The company’s cost reduction program aims to save $70 to $90 million annually by FY26, contributing to financial resilience.
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