Insimbi Refractory And Alloy Supplies says HEPS expected to be between 17.94 cents and 18.48 cents for the period ending 28 February 2018.

In an updated trading statement posted on SENS on the 11th May 2018 Insimbi shareholders were referred to the trading statement issued on the 15 March 2018 wherein they were advised that the company expected an improvement of between 55% and 65% in both earnings per share (“EPS”) and headline earnings per share (“HEPS”), for the period ended 28 February 2018.

Shareholders were advised that EPS was expected to be between 17.07 cents per share and 18.17 cents per share and headline earnings per share HEPS was expected to be between 16.85 cents per share and 17.94 cents per share representing an increase in EPS of between 55% and 65% compared to 11.01 cents per share for the period ended 28 February 2017 and HEPS of between 55% and 65% compared to 10.87 cents per share for the period ended 28 February 2017.

Insimbi announced that they are now confident that the expected range for both EPS and HEPS, for the period ending 28 February 2018, will be between 65% and 70% higher when compared to the previous corresponding period.

The company’s financial results were due to be released on or before 31 May 2018, past the publication deadline for Castings SA. Details will be published in the August 2018 issue.

Insimbi listed at a share price of 80 cents in 2008 and in early 2014 the share price was down at 63 cents. The share has since recovered and shown some impressive gains. In August 2017 the price ranged in the 130 cents area and at the time of writing the share price was up to 150 cents.

Insimbi listed in March 2008, initially on the JSE AltX board, before migrating to the Non-Ferrous Industrial Metals sector on the Main Board of the JSE in January 2012.