Healthy rise in profit is expected
INVICTA Holdings expects an increase in profit of between 25 and 30 percent – about R104.6 million to R125.6m – from R419m reported for the previous corresponding period. The Cape Townbased investment holding and management company yesterday said its earnings a share for the year to end March could increase by about 97.8 cents to 117.3c from 391c reported for the previous corresponding period. It said headline earnings a share for the year to March were also anticipated to jump between 35 to 40 percent – about 125.7c to 143.6c – from 359c the previous corresponding period and normalised headline earnings a share for the period expected to increase by between 30 to 35 percent – about 112.6c to 131.4c – from 375c for the previous year. The directors of the company, which controls and manages R14 895m in assets, declared a gross cash dividend of 698.35c a preference share for the period from November 1 last year to yesterday. It said the dividends would be paid out of distributable reserves. Invicta, which listed on the JSE in 1987, has about 4 800 employees working through its divisions and related companies.