Investec anticipates interim profit and greater credit losses
Company says in a trading update headline earnings will advance 6%-12%
Specialist bank and wealth manager Investec has flagged a rise in profit despite a tough economic environment, the weaker rand against the pound sterling and the credit losses being at the higher end of its range.
The company listed in Johannesburg and London said in a trading update on Friday that headline earnings per share (HEPS), a common profit measure in SA that excludes certain items, will advance 6%-12% to 33.8p-35.8p and total adjusted operating profit before tax 5.9%-11% to £428.7m-£449.6m (R9.9-trillion to R10.4-trillion) in the six months to end-September...
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