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Investec Sees Significantly Higher H1 Profit; Lifts FY22 Profit View - Quick Facts

Banking and wealth management group Investec Plc.(INVP.L) Thursday said its trading performance for the five months ended August 31 was substantially ahead of last year, and in line with the pre-COVID comparative period in 2019. The results were benefited by good growth in revenue and lower impairments.

For the six months ending September 30, the company expects basic earnings per share between 20.2 pence and 22.7 pence, up 110 percent to 136 percent from last year's 9.6 pence.

Adjusted earnings per share is expected between 21.5 pence and 24 pence, 92 percent to 114 percent higher than 11.2 pence a year ago.

Adjusted operating profit before tax is expected between 265 million pounds and 293 million pounds, or 86 percent to 106 percent ahead of last year's 142.5 million pounds.

The company plans to release interim results on November 18.

Looking ahead for fiscal 2022, the company expects to report adjusted earnings per share above the upper end of the 36 pence to 41 pence range guided in May, based on current business momentum.

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