Investec ‘on track’ despite challenges

INVESTEC has declared it remains on course despite grappling with a “challenging macroeconomic backdrop and market volatility” throughout the opening half of its financial year.

- MAISIE GRICE

The FTSE 250 lender indicated it anticipates its adjusted operating profit before tax for the six-month period to land between £451m and £481.8m, aligning with the £474.7m it delivered during the corresponding period last year.

Adjusted earnings per share have similarly been projected to arrive between 38.7p and 41.5p, representing a 2% decline to 5% advance on last year. Basic earnings per shares are anticipated to drop by 6% or climb by 2%, ranging between 36p to 38.8p.