Brief: Sims Sees Further Cost Reduction Measures For 2h Fy23

Sims

07/11/2022 21:40

Nov 8 (Reuters) - Sims  I8M.F :
    * TRADING UPDATE-I8M.F
    * FURTHER COST REDUCTION MEASURES ARE TARGETED FOR 2H FY23
    * CONTINUES TO BE CAUTIOUS IN SHORT-TERM OUTLOOK
    * CONTINUES TO BE CAUTIOUS IN SHORT-TERM OUTLOOK
    * UNDERLYING EBIT FOR 1H FY23 IS FORECAST TO BE IN RANGE OF
A$65
MILLION TO A$75 MILLION
    * FORECAST FY23 SUSTAINING CAPEX OF A$170 MILLION, A$50
MILLION
LOWER THAN PREVIOUS FORECAST OF A$220 MILLION
    * COMPANY REMAINS WELL POSITIONED FOR WHEN MARKET RECOVERS

Source text for Eikon:  ID:nASX3dMrpm 
Further company coverage:  I8M.F 
 ((Reuters.Briefs@thomsonreuters.com;))