Invicta: Acquisitions pay off in profit

Acquisitions totalling R1.6 billion boosted the performance of Invicta in the year to March. Yesterday the investment holding company posted 39 percent year-on-year growth in headline earnings a share to R8.85. Revenue rose 35 percent to R7.56bn, of which 18 percent, or R1bn, was from acquisitions. Operating profit, including a once-off gain of R158 million, was 47 percent higher at R884m. Excluding this one-time gain, operating profit improved by 21 percent to R726m, with R46m attributable to acquisitions. A final dividend of R1.79 a share was declared, 2c higher than last year. Invicta shares lost 2.14 percent to end at R95.90 yesterday. – Roy Cokayne