Investec increases earnings guidance

Investec increased its earnings guidance the day before the company's annual results announcement.

The financial services group guided that adjusted earnings per share for the year to the end of March excluding discontinued operations would be 28.9p a share. That figure is less than the 33.9p achieved a year earlier but better than the 24-27p range Investec published on 19 March.

Basic earnings per share on the same basis will rise to 25.2p from 17.5p a year earlier, ahead of the previously announced range of 19.7-22.5p. Headline earnings will rise to 26.6p a share from 21.5p, well ahead of the previous range of 19.5-22.3p a share.

The FTSE 250 company did not give any details or reasons for the better-than-expected numbers. Investec said it expected to publish its annual results on 21 May.

Investec shares rose 1.4% to 286.08p at 09:12 BST.