Investec’s share price rose more than 3% on Thursday after it reported a 22% jump in interest income to £1bn and a 13.5% rise in fee income to £671m for the six months to end-September. Its aftertax profit grew 9% to £237m, and Investec declared an interim dividend of 10 pence, a 5.3% increase from the matching period’s 9.5p. The group achieved this despite its biggest profit centre, Southern African specialist banking, suffering a 9.8% decline in operating profit to £117.6m. It contributed 35% of Investec’s total operating profit of £338.3m, which managed to show fractional growth from the matching period’s £337.6m. The results statement said this decline was mainly due to accounting for assets transferred to Investec Equity Partners.
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