Specialist bank and asset manager, Investec (INVP.L), in its pre-close briefing statement, said it expects operating profit for the year ending March 31, 2013, to be about 20-23 percent ahead of the prior year, with 3-4 percent growth in revenues, net of depreciation on operating leased assets.
Adjusted earnings per share for the year is expected to be 14-17 percent higher in pounds, while it is expected to be 30-34 percent higher in Rands.
The group's asset management and wealth management businesses had strong net inflows of over 4 billion pounds, with results estimated to be ahead of the prior year, while the specialist banking business in South Africa is expected to report a sound increase in operating profit in Rand terms, benefiting from growth in revenue and cost containment.
The Australian Specialist Banking business performed significantly ahead of the prior year mainly as a result of a substantial decrease in impairments. The UK Specialist Banking business is expected to report results marginally ahead of the prior year.
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