Insimbi Refractory & Alloy Supplies Limited reported provided earnings guidance for the year ended 29 February 2016. For the year, the company expects earnings per share to be between 12 cents and 12.60 cents per share compared to EPS of 10.88 cents reported for the previous corresponding period, representing an increase of between 10% and 16% per share. The company expects headline earnings per share to be between 12.25 cents and 12.85 cents per share compared to HEPS of 11.27 cents reported for the previous corresponding period, representing an increase of between 9% and 14% per share.

The increase in EPS and HEPS was as a result of improved trading activity in the traditional sectors of Insimbi, as well as cost efficiencies and is despite the impairment of debts owing by Evraz Highveld Steel and Vandium Limited, as well as various non-recurring expenses relating to, amongst others, the acquisition of Polydrum Proprietary Limited, the change in bankers and the purchase of two new properties during the year.