Investec reports increase in full-year profits despite economic uncertainties
Investec
531.50p
14:30 03/05/24
0.47%
2.50p
Investec reported a 18.5% increase in full-year statutory operating profits to £599.1m which drove a 6.3% rise in statutory earnings per share to 48.3p.
Financial Services
14,398.91
14:30 03/05/24
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14:30 03/05/24
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14:30 03/05/24
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That was despite the macroeconomic uncertainty impacting its two key markets, according to the company.
Third party assets under management rose 23.9% to £150.7bn on a currency neutral basis.
Capital remained in excess of current regulatory requirements, Investec said, adding that it is comfortable with its common equity tier 1 ratio target of 10.0%.
The board proposed a final dividend of 13.0p, taking the full-year payout to 23.0p.