News Formal

Invicta Holdings writedowns exceed market capitalisation

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

日本 ニュース ニュース

Group wrote down R1.1bn in assets in its year to end-March, including R639m related to goodwill

Christo Wiese’s industrial holding company, Invicta, swung into a loss in its year to end-March after writedowns exceeded its market capitalisation.

The group swung into a R673m loss after the impairments, from R229m in profit previously, due to Covid-19 uncertainty and deteriorating market conditions.CEO Steven Joffe said on Monday that though the group only lost three trading days due to the pandemic, trading conditions are “exceptionally difficult”, with load-shedding and drought conditions also weighing on the industry.

Joffe, who was appointed in January, said the group is focused on improving cash generation, reducing inventories, and selling noncore properties.

 

コメントありがとうございます。コメントは審査後に公開されます。
このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 12. in JP

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

Invicta Holdings writedowns exceed market capitalisationGroup wrote down R1.1bn in assets in its year to end-March, including R639m related to goodwill
ソース: BDliveSA - 🏆 12. / 63 続きを読む »

Market data — July 26 2020Market data including bonds and fuel prices
ソース: BDliveSA - 🏆 12. / 63 続きを読む »