Company News Summary | 20 Mar 2020

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Sims Provides Market Update and Announces Withdrawal Of Earnings Guidance

08:38:00 | Associate analysts

Original annuncemenet:MARKET UPDATE AND WITHDRAWAL OF EARNINGS GUIDANCE

Sims advised that 2H FY 2020 Underlying EBIT was expected to be within the range of A$40m to A$60m. At the time, the Company noted that risks to this outcome were COVID-19, aggressive competitor buy side pricing and change to the gradual Turkish recovery. The Company announced that given the unprecedented world-wide response to slowing the spread of COVID-19, and the magnitude of the impact this will have on economic activity, it is prudent to withdraw its outlook for 2H FY 2020. The Company has sales across all divisions, including cloud infrastructure.

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