INDUSTRIALS
Invicta makes big comeback
With an experienced CEO, the company has been getting the basics right and could have a bright future
It’s high time Invicta made a reappearance. Once a firm market favourite, the company has largely faded from investors’ radars over the past two years. Now, signalling what could be a return to form after two disappointing years, Invicta roared in, in its latest year to March reporting period, to lift revenue from continuing operations by 9.5% to R9.6bn and operating profit — excluding foreign exchange movements — by 34% to a record R1.05bn. Headline EPS (HEPS) were up 37.3%. It was more than good going by a group whose primary customers are in the hard-pressed manufacturing and mining sectors served by its Engineering Solutions Group (ESG) and what was, until recently, the drought-stricken agricultural sector served by its Capital Equipment Group (CEG). Invicta showed that, through sound management, tough challenges are not insurmountable. "We focused on getting the basics right," says Invicta CEO Arnold Goldstone, who has led the company for 17 years. Warren Jervis, manager of the...
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