First results show Insimbi’s revenue and profit rocket
The group’s revenue in the six months to August was R1.67bn — or 247% higher than the same period in 2016
Insimbi Refractory and Alloy Supplies presented its interim results to August 2017 at the JSE on Thursday, in the first such event since listing in 2008. The provider of ferrous and nonferrous alloys and refractory materials to the steel, aluminium, cement and foundry industries has diversified heavily in the past few years. This has dramatically changed the group’s size, complexity and market capitalisation, which is about R630m at present. "This is out first presentation of results ever. We haven’t really had much to say until now," said new CEO Fred Botha, who was appointed in June 2017. "We are now hopefully on the path to gaining some recognition from the market," he said. The group’s revenue and profit has rocketed in the past year after buying Amalgamated Metals, a recycler of ferrous and nonferrous products. It has also recently bought Polydrum, a plastics products maker for the chemicals, agricultural and oil industries, among other applications. Insimbi’s latest acquisitio...
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