Johannesburg - Shares of Insimbi Refractory and Alloy Supplies plunge 26 percent to 40 cents after the small-cap firm says its sees first-half headline earnings dropping to 4.48 cents a share, down 5 percent from a year ago.
The company, which supplies alloys and other material to the steel and cement industries, did not say why it expects lower headline earnings.
Earnings per share from continuing operations are likely to rise to 4.71 cents per share from 4.52 cents a year ago, it says. - Reuters