Investment holding and management company Invicta Holdings on Monday reported a 46%, or R1.62-billion, increase in revenue for the six months ended September, to R5.13-billion.

R1.11-billion, or 31.5%, of the growth was from acquisitions and R509-million, or 14.5%, was organic.

Further, operating profits increased by 57% and earnings and dividends a share climbed by 15%, despite challenging trading conditions in the mining and agriculture sectors.

Invicta CEO Arnold Goldstone said the company was satisfied with the results.

“Two of the largest contributors to the group, namely Capital Equipment Group (CEG) and Bearing Man Group (BMG), continued to produce positive results. The CEG numbers were boosted by the inclusion of the recently acquired Kian Ann Engineering of  Singapore and, HPE, the distributor of Hyundai earthmoving machinery in South Africa,” he said.

Meanwhile, Invicta also announced that it was realigning its directors in line with its growth and succession strategy for the future.

“We have ambitions to grow the Invicta group internationally and this required us to reassign responsibilities among the team over time” he said.

Therefore, current BMG CEO Charles Walters would move into the position of Invicta group deputy CEO as soon as a replacement was found, Goldstone said, adding that the remainder of the Invicta team would remain unchanged.