South Africa’s Investec reports 17 percent full-year profit jump

PUBLISHED: Thu, 18 May 2017 10:02:29 GMT


South Africa’s Investec reported a 17 percent rise in annual profit on Thursday buoyed by its asset management and specialist banking businesses.

Investec, which is also listed in London, said adjusted earnings per share (EPS) for the year to end-March rose to 48.3 pence from 41.3 pence a year earlier.

“The Asset Management and Wealth and Investment businesses have benefited from higher funds under management supported by rising market levels,” the company said in a statement.

It raised its full-year dividend to 23 pence per share from 21 pence a year earlier.

(Reporting by TJ Strydom; editing by Jason Neely)

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.