Invicta expected headline earnings a share for the year to March to be unchanged or up to 5 percent higher than in the previous year, the listed investment holding company said on Friday. Earnings a share were seen to be between 30 percent and 40 percent higher for the period. However, Invicta said that these earnings ranges took into account one-off non-cash items for the year. If these items were excluded, Invicta expected normalised earnings a share to increase by up to 10 percent from the previous year. Last year the firm took its first step into the global market through the acquisition of Singapore-listed Kian Ann Engineering for R1.36 billion. Invicta’s stock fell 2.46 percent to R101 on Friday.
– Roy Cokayne