News Formal

Invicta Holdings writedowns exceed market capitalisation

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

대한민국 뉴스 뉴스

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.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 12. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Invicta Holdings writedowns exceed market capitalisationGroup wrote down R1.1bn in assets in its year to end-March, including R639m related to goodwill
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »

Market data — July 26 2020Market data including bonds and fuel prices
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »