Investec feels weight of Brexit and struggling SA economy
SA’s largest asset manager expects interim headline earnings per share to fall as much as 18% in the six months to end-September
Investec, one of the star performers among JSE-listed financial services companies, dropped the most in more than three years after saying Brexit uncertainty and a weak SA economy would push its earnings down by almost a fifth.
The shares fell 5.68% in Johannesburg, the most since June 2016, according to Iress, as the company said on Friday that headline earnings per share (HEPS) could drop by between 15% and 18% for the period. Friday's fall in its share price cuts its 2019 gain to 9.44%.