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Updated Trading Statement for the twelve months ended 29 February 2024
INSIMBI INDUSTRIAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2002/029821/06)
Share code: ISB
ISIN: ZAE000116828
("Insimbi" or "the Company")
UPDATED TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 29 FEBRUARY
2024
On 9 February 2024, the Company published a trading statement in which it advised
shareholders that a reasonable degree of certainty existed that earnings per share ("EPS")
and headline earnings per share ("HEPS") are expected to decrease by at least 20%,
respectively, compared to the previous corresponding period.
Insimbi is currently in the process of finalising its results for the twelve months ended
29 February 2024, which will be announced on the Stock Exchange News Service ("SENS")
of the JSE Limited ("JSE") on or about 31 May 2024. In terms of the JSE Listings
Requirements, the Company hereby confirms that a reasonable degree of certainty now exists
that for the year ended 29 February 2024 that:
– EPS is expected to be between 11.17 cents and 13.97 cents compared to earnings per
share of 27.94 cents reported for the year ended 28 February 2023, representing a
decrease of between 50% and 60%; and
– HEPS is expected to be between 11.02 cents and 13.78 cents compared to headline
earnings per share of 27.56 cents reported for the year ended 28 February 2023,
representing a decrease of between 50% and 60%.
The decrease is due to a particularly challenging economic and operational environment in
the second half of the financial year including port and logistical challenges, lower than
expected commodity prices, high interest rates, protracted periods of load shedding and the
impact of the ban on exports of recycled metals on the business. The intense focus on cost
savings yielded notable benefits in offsetting the impact of these challenges. The Company
remains cash generative and sufficiently capitalised, and therefore has a strong platform to
take the Company forward in the new financial year.
The financial information on which this trading statement is based has not been reviewed, or
reported on, by the Company's external auditors.
Johannesburg
17 April 2024
Sponsor
PSG Capital
Date: 17-04-2024 07:05:00
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