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BRIEF-Sims Metal Management says EBIT benefits from new streamline initiatives are expected to be realised in FY17

Published 18/11/2015, 08:37 am
© Reuters.  BRIEF-Sims Metal Management says EBIT benefits from new streamline initiatives are expected to be realised in FY17
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Nov 18 (Reuters) - Sims Metal Management Ltd SGM.AX :

* Says EBIT benefits from the new streamline initiatives are expected to be fully realised in FY 2017

* 1h FY 2016 underlying EBIT is expected to be around break-even"

* 1h FY 2016 statutory EBIT could be a significant loss as a result of potential asset, goodwill, and intangible impairment

* Says underlying EBIT is currently expected to improve to an annualised rate similar to the FY 2015 result, by the end of FY 2016

* Source text for Eikon ID:nASX9btntC

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