Firm delivers ‘respectable result’

INVICTA Holdings had overcome challenging market conditions at home and abroad to deliver a “very respectable result” for the year to March, it said. Challenges at home – including labour unrest, lack of infrastructure spending, drought, power constraints and currency weakness – compounded the effect of the global slowdown in mining, industrial, agricultural and construction markets on the locally based investment holding and management company. Invicta said revenue of R10.5 billion for the year was level with the prior period. Headline earnings per share came in at 727 cents, down from 765c in the corresponding period last year. A final gross cash dividend of 111.99c a share was declared. Shares shed 4.54 percent to R76.35. – ANA