Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Wealth management firm Investec upgraded its outlook on earnings following 'good' revenue growth, and lower impairments in the first half of the year.
For fiscal year 2022, the group said it expects to report adjusted earnings per share above the upper end of the 36p to 41p range guided in May 2021.
The upbeat outlook arrived alongside expectations for strong first-half results.
For the six months ending 30 September 2021, the group expects adjusted pre-tax operating profit between £265 million and £293 million, or 86% to 106% ahead of last year.
Adjusted earnings per share are expected between 21.5p and 24p, or 92% to 114% ahead of 1H2021.
'Performance for the five months ended 31 August 2021 was characterised by good growth in revenue and lower impairments,' the company said.
The interim results for the six months ending 30 September 2021 are scheduled for release on Thursday,18 November 2021.