Insimbi Industrial Holdings Ltd (JSE:ISB) News - Unreviewed Condensed Consolidated Results for the Six Months ended 31 August 2021

INSIMBI INDUSTRIAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration No: 2002/029821/06)
(Income tax reference no: 9078/488/15/3)
Share code: ISB   ISIN code: ZAE000116828
("Insimbi" or "the Group" or "the Company") 

SUMMARY OF THE UNREVIEWED CONDENSED CONSOLIDATED RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2021 

PROFILE
Insimbi is a group of companies that sustainably source, process, beneficiate and recycle metals. 
The core business expertise is the ability to source and provide local, regional and global 
industrial consumers with the required commodity over its four distinct business segments. 
The Group herewith announces its unreviewed consolidated financial results for the six months 
ended 31 August 2021.

FINANCIAL INDICATORS
                                                            2021           2020         % Change
Revenue (R'000)                                        3 132 320      2 121 263               48
Net Profit (R'000)                                        45 946          4 197              994
Operating profit (R'000)                                  95 173         33 845              181
Cash generated from operations (R'000)                   120 995         82 837               46
Earnings per share (cents)                                 11.22           1.02              999
Headline earnings per share (cents)                        11.17           1.03              984

OVERVIEW
We are very pleased with the interim results and the performance we have continued to produce since 
coming out of lockdown level 5 nearly 17 months ago in early May 2020. Quite simply, the performance 
over this period has been the most consistent and robust we have ever experienced. This while still 
operating under a protracted State of Disaster and various levels of lockdown. The Group's 
acquisition and diversification strategy over the previous 5 years has played a significant role 
in achieving sustainability and, despite the unfortunate advent of the Covid-19 pandemic in late 
2019 which placed us under severe pressure in the first half last year, Insimbi has weathered the 
"storm" with aplomb and our results over the last 12 months, including these interim results, attest 
to that.

Our target industries and markets all seemed to have the "wind in their sails" and our core 
operations have performed well despite challenges in some segments. Volumes and revenues are back 
to, and even exceeding, pre-Covid-19 levels and our products are in demand both locally and for 
export. 

The local economy does seem to be evidencing some growth, but implementation of stimulus initiatives 
remains slow. We have noticed a level of resilience amongst South African citizens and businesses 
that is quite frankly, extraordinary, but we are also starting to see an increase in the demise and 
closure of some business operations that can simply just not keep operating, and the impact on 
unemployment is a matter of statistical fact. One can only have faith that our Government is taking 
the necessary steps to improve the roll-out of the stimulus and support that our economy needs to 
grow at a pace to reverse the damage done over the last decade, including the impact of Covid-19.

In conclusion, we believe we are through the worst of the Covid-19 pandemic but there is no doubt 
that there will be new and different challenges in our future. However, we are confident that our 
interim results and our rolling 12 month earnings are clear evidence of the potential and 
resilience of Insimbi, even under the most adverse of conditions.

This short form announcement is the responsibility of the directors and is only a summary of the 
information contained in the full announcement and does not contain full or complete details. 
The full announcement published on SENS is available at 
https://senspdf.jse.co.za/documents/2021/JSE/ISSE/ISBE/FY2021H1.pdf.

Copies of the full announcement is available on the group's website at www.insimbi-group.co.za, 
or may be requested at the group's registered office (359 Crocker Road, Wadeville, Germiston) or 
at the Sponsor's office, at no charge, during office hours. Any investment decisions in relation 
to the company's shares should be based on the full announcement.

The information in this announcement has not been audited. 

Directors:                F Botha (Chief Executive Officer)
                          N Winde (Chief Financial Officer)
                          C Coombs
                          RI Dickerson* (Chairperson)
                          IP Mogotlane*
                          N Mwale*
                          CS Ntshingila*
                          (*non-executive)
Company Secretary:        M Madhlophe
Registered office:        Stand 359 Crocker Road, Wadeville, Germiston, 1422
Website:                  www.insimbi-group.co.za
Sponsor:                  PSG Capital
Transfer Secretaries:     Computershare Investor Services Proprietary Limited
Auditors:                 Moore Cape Town Inc.

4 October 2021
Date: 04-10-2021 07:05:00
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