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Financial services group Investec reported a 15% rise in half-year profit.

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Investec, the niche bank and wealth manager, upped its interim dividend by almost 15% after a rise in interest rates helped boost its first-half earnings. It has also benefitted from strong corporate loan growth and increased revenue from its South African wealth and investment operations.

The Johannesburg- and London-listed firm, which reports its results in pounds, said on Thursday that headline earnings per share jumped 15.3% to 39.7p in its six months to September. This profit measure, which excludes one-off items, leapt almost 30% in rand terms due to a weaker local currency.

16 Nov 2023 3PM English South Africa Business News · Investing

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