LONDON (dpa-AFX) - Investec (INVP.L), on Thursday, H1 headline earnings of 36.6 pence per share compared to 36.9 pence per share last year.
Adjusted earnings attributable to shareholders increased 8.1% to £337.9 million from £329.8 million in the prior year period. On a per-share basis, adjusted earnings improved 0.8% to 39.5 pence from 38.7 pence earned a year ago.
Revenue for the period amounted to £1.10 billion, up 5.6% from the previous year's revenue of £1.04 billion.
Net interest income increased 2.0% to £684.4 million from £670.9 million last year, driven by higher average interest-earning assets and higher average interest rates which was partly offset by the effects of deposit repricing in the UK. Southern Africa also benefitted from a lower cost of funds as the company continued to implement its strategies to optimise the cost of funds.
Non-interest revenue increased 12.2% to £418.2 million from £372.9 million reported in the same period of last year.
'The Group has delivered a solid performance in the first half of the 2025 financial year in an evolving environment. Adjusted operating profit grew 7.6% to £475 million demonstrating continued momentum from our differentiated client franchises. We are pleased to report a ROE of 13.9% putting us on track to achieve the Group's full year ROE guidance. The Group has maintained strong capital and liquidity levels, positioning us well to support our clients and pursue disciplined growth in an improving operating environment. We remain committed to our purpose of creating enduring worth for all our stakeholders.'
Revenue momentum is anticipated to be supported by average book growth, increased levels of client activity in light of expected improvements in GDP growth, and continued effectiveness in client acquisition strategies. This positive trajectory may be partially offset by the impact of declining global interest rates.
Group ROE is expected to be about 14.0% and ROTE to be about 16.0%. Investec Limited is expected to report an ROE of about 19.0% and Investec plc is expected to report a ROTE of about 13.5% in line with 1H2025.
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