Sims Metal Management Ltd, a scrap metal recycler in Australia, announced today that its revenue fall 31% for the nine month period ended March 31, 2010. Sims said that the decline in revenue was mainly attributable to the bad performance in its business at North America region.

However, Sims said that it expects growth in earnings in the fourth quarter of the fiscal. Sims Metal said in its results that total revenue of the group was reported of $A5 billion for the period of nine months ended March 31, decreasing by 31% comparing to the same period last year.

The Company recorded a net profit after tax of $A70.4 million for the nine months period. EBITDA for the period was reported of $A214 million, decreasing by 23% comparing to the same period last year. Basic earnings per share for the nine months were reported of 37 cents per share.

Total sales from its North America region were reported of $A3.3 billion, decreasing by 40% comparing to the previous corresponding period. Sims said that net profit after tax for the third quarter was reported of $30.4 million. Total revenue for the third quarter was reported of $A1.6 billion and EBITDA was reported of $A78.0 million in the period.