INVESTEC's annual earnings per share have topped pre-pandemic levels, as the specialist banking and asset management group reaps the rewards of Covid-19 economic recovery.
Adjusted earnings per share nearly doubled in the year to 31
March, jumping from 28.9p in 2021 to 55.1p - coming in at the top end of previous guidance.
The London-headquartered group's revenue lifted over 21 per cent in the period, while funds under management swelled 9.2 per cent to £63.8bn, from £58.4bn a year prior.
Investec said that the financial results were underpinned by net inflows of £1.9bn and a rebalancing of market levels, after a sustained period of volatility, which trickled into the last quarter.
The group's cost to income ratio has also improved considerably in the 12-month period, with chief exec Fani Titi hailing the results as a "testament" to the group's strength.
(c) 2022 City A.M., source Newspaper