Investec says Covid-19 has cost it R2.3bn despite growth in client-related revenues
21 May 2020 - 09:23
Financial services group Investec says growth in client-related revenues was more than offset by a deteriorating global economic backdrop in its year to end-March, when Covid-19 cost it £105m (R2.3bn) in lost profits.
Adjusted operating profit, the group’s preferred measure of profit achieved in the course of ordinary operations, fell 16.8% to £608.9m, with the group also citing Brexit uncertainty and SA’s weak economy as weighing on its performance...
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