ISB
ISB
ISB - Insimbi - Trading Update
Insimbi Refractory and Alloy Supplies Limited
Formerly Insimbi Alloy Supplies (Proprietary) Limited
(Registration number 2002/029821/06)
JSE share code: ISB
ISIN Number: ZAE000116828
("Insimbi" or "the company")
Trading update
In terms of the Listing Requirements of the JSE Limited, companies are required
to publish a trading statement as soon as they become reasonably certain that
the financial results for the period to be reported on will be more than 20%
different from that of the previous corresponding period.
Accordingly, a review of the financial results by management has indicated that
for the six months ending 31 August 2009, earnings per share (EPS) and headline
earnings per share (HEPS) for the group are expected to be 2.61 and 2.62 cents
compared to 15.06 and 15.05 cents for the same reporting period last year.
The drop in earnings is a direct result of the down turn in the global economy
which has had a major impact on the steel, non-ferrous and foundry industries
and due to an impact of secondary tax on companies ("STC") charges. Unlike many
of its peers exposed to the same industries, Insimbi has managed to remain
profitable in tough market conditions.
Management at Insimbi expects to see a more robust second half for the above
mentioned industries, especially steel, as signs of a sustainable upturn are
beginning to show.
The financial information on which this trading statement is based has not been
reviewed or reported on by the Group`s auditors. The results for the six months
ending August 2009 are expected to be published on or around 09 October 2009.
18 September 2009
Designated Advisor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
(Registration number 1970/003711/07)
Date: 18/09/2009 16:00:03 Produced by the JSE SENS Department.
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