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