Insimbi Industrial Holdings Limited provided earnings guidance for the year ended 29, February 2024. For the period, 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.