Investec reports fall in earnings
Investec reported weak earnings for the six months to end September, hit by a poor performance in the UK. Supplied
Investec reported weak earnings for the six months to end September, hit by a poor performance in the UK. File image: African News Agency (ANA)
DURBAN –
Investec reported weak earnings for the six months to end September, hit by a poor performance in the UK.
Investec reported weak earnings for the six months to end September, hit by a poor performance in the UK.
The group said the decrease in the UK Specialist Bank’s adjusted operating profit of 18.9 percent reflected lower investment banking fees in weak market conditions. However, this weak performance was offset by the South African Specialist Bank’s division which reported a 6.7 percent increase in adjusted operating profit.
The group’s overall headline earnings per share (Heps) declined by 17.2 percent to 22.7 pence a share, down from 27.4p compared to last year and adjusted operating profit declined by 1.7 percent to £373.6 million.
Source: iol.co.za