Specialist bank and wealth manager Investec has upped its earnings forecast for its 2022 year, saying its efforts to simplify and focus the group were bearing fruit, while its performance was already in line with pre-pandemic levels.
The group spun off its investment management business, now called NinetyOne, in March 2020 even as SA grappled with its first wave of Covid-19 infections. In a pre-close update on Friday, Investec also cited the resilience of its client franchises as it said it expected adjusted operating profit before tax to rise as much as 106% to ˆ£293m in its first half ending September...
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