News

Investec PLC Reports Strong First Half Results

1 2 3 4 5

4.8

Andrew R. Michaud

• November 16, 2023

Investec PLC, a leading financial-services company, has announced a significant increase in net profit for the first half of fiscal 2024. The company attributes this success to its effective client acquisition strategies, loan book growth, and favorable interest rates.

Robust Financial Performance

For the half-year ended September 30, Investec PLC reported a net profit of £614.9 million ($763.5 million), marking a substantial 29% rise from the same period last year when the figure stood at £478.1 million. Net interest income also experienced steady growth, reaching £682.6 million compared to the previous year's £607.8 million.

Impressive Earnings per Share

Investec PLC witnessed a notable increase in basic earnings per share, rising to 69.6 pence from 50.6 pence last year. The company's adjusted EPS also showed a positive trend, reaching 38.7 pence compared to 32.9 pence in the previous year.

Strong Dividend and Return on Equity

The board of Investec PLC has declared a dividend of 15.5 pence per share, demonstrating the company's commitment to rewarding shareholders. Moreover, the company's return on equity rose to 14.6%, achieving its target range of 12% to 16%.

A Promising Outlook

Investec PLC emphasized its ability to support clients amidst the current uncertain macroeconomic environment. The company remains confident in its strong capital and liquidity positions, enabling it to pursue growth initiatives in selected markets.