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Annual Results

Investec operating profits up

21 May 2015 08:42

Investec's statutory operating profit increased 9.4% to £493.2m in the year to the end of March - an increase of 18.0% on a currency neutral basis.

Statutory adjusted earnings per share before goodwill, acquired intangibles and non-operating items increased 4.0% from 37.9 pence to 39.4 pence - an increase of 12.4% on a currency neutral basis.

The group posted a non-operating net loss after tax of £113.7m on the sale of subsidiaries.

Ongoing operating profit increased 15.0% to £580.7m - an increase of 22.6% on a currency neutral basis.

Ongoing adjusted EPS before goodwill, acquired intangibles and non-operating items increased 10.2% from 43.1p to 47.5p - an increase of 17.9% on a currency neutral basis.

Third party assets under management increased 13.7% to £124.1bn (2014: £109.2bn).

Customer accounts (deposits) increased 7.3% to £22.6bn. Core loans and advances increased 15.4% to £16.5bn.

Managing director Bernard Kantor said: "The ongoing results reflect a very satisfactory year. The performance of Wealth & Investment and Asset Management continues to reflect the quality of the businesses. Specialist Banking in South Africa had an excellent year while in London, the corporate business is performing well and the private bank has dealt with the over-riding majority of its legacy issues."

At 8:42am: (LON:INVP) Investec PLC share price was +2.75p at 632.25p

Story provided by StockMarketWire.com

Related Company: INVP

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