ISB - Insimbi Refractory and Alloy Supplies Ltd - Unaudited consolidated

Release Date: 06/10/2011 12:32
Code(s): ISB
 
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ISB - Insimbi Refractory and Alloy Supplies Ltd - Unaudited consolidated condensed financial results for the six months ended 31 August 2011 INSIMBI REFRACTORY AND ALLOY SUPPLIES LTD (Incorporated in the Republic of South Africa) (Registration No: 2002/029821/06) Share code: ISB & ISIN code: ZAE000116828 ("Insimbi" or "the company" or "the group") UNAUDITED CONSOLIDATED CONDENSED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2011 Key Financial Indicators - Revenue increased by 10% to R 454 million compared to the previous period. - Operating costs are down by 13 %. - Profit before taxation is 34% higher when compared to the results for the same reporting period in the previous year, after adjusting for non recurring items. - Gross profit decreased by 6% to R 48 million. - EPS down by 9.3% when compared to the adjusted results for the same reporting period in the previous year. - HEPS up by 20,2%. - Operations generated R30 million cash in the 6 months to 31 August 2011 compared to R24 million in the previous comparative period, reflecting continued prudent cash management. - Tangible NAV up by 10% on comparative period and 24% on February 2011. - Dividend declaration number five of 2c per share. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Unaudited Unaudited Restated Audited 6 months 6 months Year
to to ended 31 August 31 August 28 February 2011 2010 2011
R`000 R`000 R`000 Revenue 453 592 412 043 732 453 Cost of sales (405 610) (360 954) (642 665) Gross profit 47 982 51 089 89 788 Negative goodwill - 5 791 5 791 Operating costs (30 492) (35 094) (71 000) Operating profit 17 490 21 786 24 579 Finance income 257 479 1 186 Finance costs (3 467) (5 818) (8 771) Profit before taxation 14 280 16 447 16 994 Taxation (3 554) (4 539) (5 001) Profit for the period/year 10 726 11 908 11 993 Currency translation differences 9 72 20 Total comprehensive income 10 735 11 980 12 013
Attributable to equity holders 10 735 11 980 12 013
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