Invicta sees 58% jump in HEPS
Industrial holding company Invicta says it made tough decisions in the previous period to reduce debts in their latest report. Headline earnings per share are up 58 per cent to 204 cents per share. Joining CNBC Africa for more is Steven Joffe, CEO Invicta Holdings.
Thu, 25 Nov 2021 16:00:44 GMT
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AI Generated Summary
- Invicta Holdings reports a 58% increase in headline earnings per share to 204 cents, attributing the growth to a recovery from the impacts of COVID-19 and cost containment measures implemented in the previous year.
- The CEO, Stephen Joffe, highlights the success of new ventures and emerging opportunities in China, Europe, America, and Africa, underscoring the company's commitment to leveraging its diverse portfolio for sustained growth.
- Despite challenges in global supply chains and rising raw material costs, Invicta Holdings maintains stability through effective stock management and resourceful management solutions, positioning the company for continued success and value creation.
Industrial holding company Invicta Holdings has reported a significant 58% increase in headline earnings per share to 204 cents. The CEO of Invicta Holdings, Stephen Joffe, credits this growth to the company's recovery from the challenges posed by the COVID-19 pandemic and the strategic cost containment measures implemented in the previous year. While speaking to CNBC Africa, Joffe highlighted the positive impact of decisive actions taken by the company, which are now reflected in their improved financial results. Despite facing disruptions in supply chains and rising raw material costs, Invicta Holdings managed to maintain stability and profitability, thanks to effective stock management and the resourcefulness of experienced managers. Joffe expressed optimism about the company's outlook, citing potential opportunities in new ventures and emerging industries in China, Europe, America, and Africa. He specifically mentioned the successful performance of factories in China and the launch of a new online business, BMG China, which showed promising results in its initial month of operation. With a strong foundation established through restructuring and asset realignment, Invicta Holdings is now poised for sustained growth and expansion. Though the current revenue appears to be primarily derived from South Africa, Joffe emphasized that a substantial portion of the company's earnings are generated offshore, particularly through investments like the K&A joint venture in China. Despite ongoing challenges in the global business environment, Invicta Holdings remains focused on leveraging its diverse portfolio and strategic partnerships to capitalize on emerging opportunities and drive long-term value creation for its stakeholders.