Invicta, a diversified industrial group, says it delivered "exceptional results" for the year to March 2017 amid exchange rate volatility, the severe drought and continuing political turmoil. Despite recession in the third and fourth quarters of the company’s financial year, it grew revenue 8.4% to R11.5bn, as attributable profit soared 25.7% to R533m. Headline earnings per share shot up 37.3% to 500c. Operating profit before foreign exchange movements jumped 35.9% to R1.16bn, from R853m in financial 2016. Mpho Mokotso, an analyst at Avior Capital Markets, said on Monday that the group’s earnings came from tight cost controls and management of the gross profit margin, while its Singapore-listed Kian Ann engineering subsidiary did better. She said Invicta’s rest of Africa businesses were contributing an estimated 5% to 10% of group profit. The engineering solutions operations opened new branches in Tanzania, the Democratic Republic of Congo and Ghana. This added to the businesses in ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.