Lack of infrastructure spending weighs on Invicta
New acquisitions and recovery from a tax provision in the prior comparative year helped offset constrained conditions in the period to end-September
25 November 2019 - 08:48
Christo Wiese’s industrial holding company, Invicta, received a boost from new acquisitions during its six months to end-September, though load-shedding and a lack of big projects weighed on the group’s performance.
Revenue at the company’s Engineering Solutions Group (ESG) grew 7% to R2.74bn, of which R216m came from new acquisitions. The company had acquired machine tools company Forge Industrial in September 2018, and parts company Driveshaft Parts in December 2018...
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