Level heads prevail at Invicta in tough economic times
Given its inventory days and debt, the company’s strategy to reduce exposure to the SA market is sensible
Since 2013, there has been a general decline in industrial equipment distributor Invicta’s earnings per share.
The fall in earnings per share – an important indicator of profitability – is a gentle reminder that the company can do better to provide a solid return to investors.
The company has been quick to point out that its recent performance has taken strain because of a dip in economic growth. But there are two items in the company’s balance sheet that need urgent attention – inventory days and debt. ..
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