Sims biggest loser on Australian benchmark after weak domestic earnings

Sims

18/08/2026 03:47

** Shares of Sims SGM.AX fall as much as 17.6% to A$21.265, their biggest intraday pct loss since late Jan 2019
** Shares hit lowest level since May 8; biggest percentage dropper on benchmark S&P/ASX 200 .AXJO, which is up 0.1%
** Metal recycling co's underlying operating earnings in Australia and New Zealand fall 22.7% in FY26, hit by decline in ferrous sales volumes 
** Co warns Chinese steel exports to continue pressuring ferrous markets in FY27, particularly Australia and New Zealand 
** YTD, shares up nearly 26%, AXJO up about 4%

(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))