Create Free Account

By creating account you will get access to hot stocks & personalised emails

Mid-Cap

Why we sold out of Sims Metal Management ?

December 29, 2014 | Team Kalkine
Why we sold out of Sims Metal Management ?

Today’s report entails Sims Metal (SGM) which has laid down few updates during its recent annual general meeting. As per SGM’s five year strategic plan, the restructured management team has introduced new perspectives for growth. The Company reiterated that its three step model of Streamline, Optimise, and Grow, sets the roadmap to increase underlying EBIT by more than 350% over FY13. SGM reported that financial results in FY14 entailed underlying EBIT of $119 million which is an increase of 77% over the prior year result of $67 million; and underlying NPAT of $69 million which was three times higher than the prior year. The market conditions were challenging along with cyclical low levels of secondary metal generation, intense competition, and severe winter weather conditions in North America. SGM reported a statutory net loss after tax of $89 million in view of $158 million of significant items, including $100 million in costs relating to restructuring activities in the UK and North America and $23 million in goodwill impairments in relation to SRS in North America. SGM determined to pay a final dividend for FY14 of 10 cents per share, which was fully franked and the Company’s dividend policy to distribute 45% to 55% of NPAT, subject to the discretion of the Board, remained unchanged. Click Here to read the full report.
Blue-Chip
An Update on One NASDAQ- Listed Online Services Stock – Alphabet Inc
November 22, 2024Team Kalkine
Blue-Chip
One Internet Services & Infrastructure Stock Near Resistance Levels – SNOW
November 22, 2024Team Kalkine
Small-Cap
One NYSE: Listed Renewable Energy Stock at Resistance Level: Sunnova Energy International Inc
November 22, 2024Team Kalkine
Blue-Chip
One NASDAQ- Listed Renewable Energy Stock at Decent Support Levels– First Solar Inc
November 22, 2024Team Kalkine
Small-Cap
One NASDAQ- Listed Movies & Entertainment ADR Under Radar- iQIYI, Inc
November 22, 2024Team Kalkine

Get In Touch

By submitting your details and clicking on the Register button below, you agree to Kalkine’s Terms and Conditions and agree to receive marketing offers, including to be contacted by email or phone, as set out in our Privacy Policy. Any calls will be made by Kalkine Pty Ltd or Kalkine Solutions Private Limited on our behalf.You also agree that Kalkine/KSPL can give you its Financial Services Guide by electronic means (including by website link or email). Before accessing our services, please read the Financial Services Guide available here.

Please wait processing your request...

Our Company

Useful Links

Contact Us

ISO Certified Market Research

Kalkine Solutions Private Limited, authorized representative of Kalkine Pty Ltd, holds ISO 27001:2022 certification bearing Certificate No.- IC-IS-2404072

Our Company

Useful Links

Contact Us

Disclaimer

The information given by Kalkine Pty Ltd ABN34 154 808 312 (Australian Financial Services License Number 425376) on this website is general information or advice only.

It does not take into account any of your personal objectives, circumstances or needs. Choosing an investment is an important decision. If you do not feel confident making a decision based on the recommendations Kalkine has made in our reports, you should consider obtaining personal advice from an authorised adviser.

There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. Terms & Conditions have been provided for our services, please go through them and also read our Financial Services Guide.

Our website may contain information on past performance of particular investments. Past performance is not an indicator of future performance. Hypothetical returns may not reflect actual performance. Any displays of potential investment opportunities are for sample purposes only and may not actually be available to investors.

The information on the website does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Our reports contain general recommendations to invest in securities.

Copyright 2024 Krish Capital Pty. Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.