Sims UK earnings jump in 2017 on stronger scrap export demand

By Lee Allen / April 09, 2018 / www.metalbulletin.com / Article Link

Metals recycling company Sims UK recorded a rise in earnings of 163.63% year-on-year in 2017 on healthier export demand for ferrous scrap.

Earnings before interest, taxes, depreciation and amortization (Ebitda) at Sims UK rose to ?29 million ($41 million) from July 2016 to June 2017, compared with ?11 million in the preceding 12 months, the firm said in a filing to Companies House, the UK's official record-keeper, on Friday April 6."A boost from the export markets helped to offset a decline in demand from domestic UK steel mills,...

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