Investec lifts earnings guidance, sees rise in interims

Wealth manager and banking group Investec on Thursday raised its earnings outlook driven by strong revenue growth and lower impairments.

The group said first-half adjusted operating pre-tax profit for the first half was forecast to be between £265m - £293m, up from £142.5m a year ago.

Adjusted operating profit for the first half of 2022 is anticipated to be ahead of the first half of 2021, Investec added.

Based on current business momentum, the group expects to report full-year 2022 adjusted earnings per share above the upper end of the 36p - 41p range guided in May.