Australia-based Sims Metal Management announced its financial results for the fiscal year 2014-15 ending June 30. The company’s revenues in the given year totaled A$6.3 billion, a 11 percent decrease year on year due to lower sales volumes and competitive market conditions. For the given period, Sims reported a net operating profit after tax, on a statutory basis, of A$99 million, increasing 19.2 percent year on year. In the same year, company’s EBITDA increased by 19 percent to A$142 million.
Sims stated that in the financial year 2014-15 its earnings were negatively impacted by commodity price declines and severe weather conditions in North America.