Investec says half-year profits could double

JOHANNESBURG (Reuters) - South Africa's Investec said on Thursday it expects an up to 114% rise in half-year profits, as it recovers from the impact of COVID-19 and hefty hedging costs at its British bank trail off.

The financial services group said for the six months to Sept 30, its adjusted earnings per share, which reflect profits made in the course of ordinary operations, were likely to stand at between 21.5 pence and 24 pence, compared to 11.2 pence a year earlier.

(Reporting by Emma Rumney; Editing by Promit Mukherjee)