- Compass Group 887.00 0.00
- Croda Intl. 2,529.00 0.00
- Eurasian 254.80 0.00
- Hsbc Hldgs.uk 726.00 0.00
- Next 4,580.00 0.00
- Woburn Energy 1.50 0.00
- Xtract 0.13 0.00
Investec operating pre-tax profits down 2%
Thursday, 17th November 2011
FTSE100 international specialist bank and asset manager Investec has revealed a stable first half performance during a period of renewed market instability.The group has continued to grow the proportion of its revenues derived from non-lending activities.
And Investec's asset and wealth management businesses have again performed well and account for 39.1% of group operating profit (2010: 28.6%).
Operating pre-tax profits for the six months to the end of September were down 2% at £223,6m with earnings attributable to shareholders down by 0.2% at £162.9m.
The dividend is maintained at 8.0p per share.
CEO Stephen Koseff said: "These results show that Investec has made strong progress with its strategy to grow revenues from less capital intensive activities.
"While income from principal transactions declined, operating profits held up well in challenging markets, with revenues from net fees and commissions growing by 31%.
"We continue to look for opportunities to leverage our platforms whilst maintaining the appropriate vigilance to navigate a steady course."
At 8:57am: (LON:INVP) Investec share price was -5.25p at 362.55p
Story provided by StockMarketWire.com
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