On Thursday Sims Metal Management Limited (ASX: SGM) announced that it expects underlying earnings before interest and taxes of between $55 million and $65 million in the second half of its financial year. The company said that the improved performance was “driven largely by higher ferrous metal prices and stronger sales volumes”. Shares in SGM closed down 1.3% for the week. We do not own SGM in the investment portfolio.
Established in 1997 by Geoff Wilson, we are an independently owned investment manager based in Sydney. Today, Wilson Asset Management is comprised of ten investment professionals who offer a combined investment experience of almost 100 years.