BUSINESS DAY TV: We are firmly set on growth abroad but are not ignoring SA
Invicta CEO Arnold Goldstone discusses the company’s full-year results
BUSINESS DAY TV: Invicta has reported a 37% jump in full-year headline earnings per share, despite what it’s called a difficult trading environment. Revenue for the period grew 8.4% to R11.5bn while operating profit shot up 48%. Invicta’s CEO Arnold Goldstone joins us now. Still with us now is Devin Shutte of the Robert Group. Arnold, so growth coming through as we highlighted under very difficult trading conditions. You say it’s as the recession entered SA’s first quarter of 2017, that’s counted against the group with your second half in particular being hit, how so? Talk us through some of the challenges I guess. ARNOLD GOLDSTONE: Firstly, our business operates in the hard end of the economy. We service the mining industry, industrial SA, agricultural SA and construction machinery in SA. And then abroad we service generally the earth-moving spares parts business. So each of those sectors has had challenges. SA hasn’t covered itself in glory as far as developing infrastructure in t...
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