INVICTA Holdings, a distributor of industrial consumables and industrial and agricultural equipment and machinery slumped 4% at mid-afternoon on Tuesday after it said operating profit for the year to March was expected to slip 15%-20%.The drop in profitability — of between R152m and R203m, from an operating profit of R1bn last year — comes as business confidence in SA slumped to seven-year lows."Invicta’s business operations have shown resilience in exceptionally difficult trading conditions, but have struggled to maintain last year’s levels of performance," the company said. Invicta is chaired by retail tycoon Christo Wiese.Profit attributable to ordinary shareholders was expected to plunge 25%-30% — a fall of between R145m and R174m — compared to attributable profit of R579m in 2015.Headline earnings per share for the year were expected to plummet between 47% and 52%, a fall of between 342c and 378c, compared with 727c in 2015.The Manufacturing Circle first quarter bulletin indica...
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