BUZZ-Australia's Sims extends gains on positive FY25 update, Macquarie ups earnings estimates

Reuters09-20

** Australia's Sims Ltd up as much as 2.3% to A$12.68, hitting its highest level since April 4

** Macquarie raises 1HFY25 EBIT estimate for Sims Ltd's

metal businesses to A$127.5 mln

** Brokerage revises the estimate for the metal recylcer after co forecast A$55 mln ($37.44 mln) in 1QFY25 for its Metal businesses

** Also revises 1HFY25 EBIT estimate to A$59.5 mln for the metals recycler's North America Metal business from A$18.9 mln after co forecast A$29 mln EBIT in 1QFY25 for the same

** Brokerage revises 1HFY25 EBIT estimate to A$30.2 mln for co's Australia New Zealand business from A$58.4 mln; co forecast A$13 mln EBIT in 1QFY25

** Stock has fallen 20.3% YTD, as of last close

($1 = 1.4689 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))

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