Invicta invictus Steven Joffe. Picture: Supplied
Industrial consumables business Invicta appears to be finding its way out of the stock market wilderness. Over one year the share has surged 369%, thanks to an aggressive clean-up under new management, which saw full-year headline earnings rocket 129% to 206c a share, debt slashed, and enough cash on hand to pay investors a 60c per share dividend. But, at R28, the company has a long way to go before it scales its 2013 share price peak of R110. The FM spoke to CEO Steven Joffe.
Clearly, Invicta had a much better year. Is that more to do with asset sales and cutbacks than operational improvements?