Sims Metal Management Limited (SMS: Quote) reported that its fiscal 2012 net loss after tax, on a statutory basis, was A$521 million, or 253.3 cents per share, compared to net income of A$192 million or 93.3 cents per share in fiscal 2011.
Underlying net income after tax for the year was A$77 million, a decrease of 58 percent from A$182 million last year. Underlying earnings per share was 37.0 cents, a decrease of 58 percent on the prior corresponding period.
Revenue for fiscal 2012 was A$9.04 billion, up from A$8.85 billion in last year.
The company said it has determined that a final dividend of 10 cents per share (unfranked) will be paid on 19 October 2012 to shareholders on the Company's register at the record date of 5 October 2012. The total dividends for all of Fiscal 2012 represent a payout ratio of circa 56 percent of net profit before non-cash goodwill impairment charges. The Company's Dividend Reinvestment Plan remains suspended.
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by RTT Staff Writer
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