Invicta posts 99% jump in FY HEPS

Invicta, a leading industrial solutions provider, has reported a 99% increase in headline earnings per share for the year ending March. The company also saw a significant 15% jump in revenue, showcasing a strong financial performance after a period of various restructuring moves. Steven Joffe, the CEO of Invicta, credited the resilient performance to the hard work of the teams operating in markets across the globe. Despite facing a challenging operating environment marked by multiple obstacles such as the COVID-19 pandemic, supply chain disruptions, civil unrest, and power outages, Invicta managed to deliver strong results. Joffe highlighted the company's ability to adapt and perform well amidst adversities, demonstrating agility and strategic decision-making. The success of Invicta can be attributed to its diverse business segments, including the sale of replacement parts and equipment to capital equipment providers. The company's parts business thrived as customers deferred capital expenditures, while its industrial business faced pressure due to the slowdown in industrial activities. However, Joffe remains optimistic about growth prospects, particularly in markets like China, America, and Europe, as well as in the mining and agricultural sectors in South Africa. Addressing concerns about inflation, Joffe acknowledged a 10% increase in costs across the basket of goods supplied by Invicta. The company has been cautious about passing on these cost increases to customers, focusing on maintaining long-term partnerships and finding cost-saving measures internally. While Invicta may need to raise prices gradually, Joffe believes that customers will understand and support the necessary adjustments. Despite the challenging economic landscape, Invicta is well-prepared to navigate supply chain challenges by managing inventory efficiently. With a strong financial position and resilient sectors to supply, the company remains optimistic about the future. While acknowledging the uncertainty and inflationary pressures ahead, Joffe expressed confidence in Invicta's ability to adapt and thrive in the evolving business environment. Investors and stakeholders can look forward to another promising year ahead for Invicta.