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Investec FY Pre-tax Profit Rises - Quick Facts

Investec plc (INVP.L) on Thursday reported pre-tax profit of 687.2 million pounds for the year ended 31 March 2019, up from 637.5 million pounds in the prior year. Earnings per share rose to 50.9 pence from 49.8 pence last year.

Adjusted earnings per share were 54.0 pence, compared to 51.7 pence last year.

Net interest income for the year increased 7 percent to 815.4 million pounds from 760.4 million pounds a year ago, driven by lending activity and endowment impact from rate rises in the UK.

Total operating income before expected credit losses and impairment losses increased 1.8 percent to 2.49 billion pounds from 2.44 billion pounds a year ago.

Looking ahead, Investec said it is on track with the proposed demerger and separate listing of Investec Asset Management, which should enhance the long-term prospects of both businesses. The company expressed confidence it has positioned the businesses to ensure they meet their growth objectives and deliver long-term shareholder returns.

The company's board has proposed a final dividend of 13.5 pence per ordinary share. The dividend is payable to shareholders recorded in the shareholders' register of the company at the close of business on Friday, 26 July 2019.

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