Investec Full-Year Profit Jumps 15% to Beat Analyst Estimates
- Company says third-party assets under management increase 24%
- Company says revenue breaks through 2 billion-pound mark
This article is for subscribers only.
Investec Plc, owner of a bank and money manager in South Africa and the U.K., posted full-year earnings that beat analyst estimates as assets under management and lending jumped.
Net income for the 12 months ended March 31 climbed to 487.1 million pounds ($630.9 million) from 423.1 million pounds a year earlier, the London and Johannesburg-based lender said in a statement on Thursday. Adjusted earnings per share increased 11 percent to 54.1 pence, compared with the 45.8 pence median estimate of eight analysts surveyed by Bloomberg.