Investec boosts guidance after profit more than doubles and sheds 15 per cent of Ninety One Wealth management Investec today said its recovery continued in the first half of its new financial year, as profit more than doubled from the same period a year earlier. The FTSE 250 firm said this rebound was driven by a strong earnings recovery on increased client activity across the business and lower funding costs. As a result [...]
FTSE 250 group Investec expects 125 per cent UK profit growth Wealth manager Investec expects 125 per cent UK profit growth Wealth manager and banking group Investec has raised its earnings guidance following a rebound in revenue, with its UK wealth division growing 9 per cent to £45bn. The Group said its UK business’ adjusted operating profit are now expected to be at least 125 per cent higher than the first half of 2021. The Anglo-South [...]
Investec sees annual profit drop but second half resurgence boosts outlook Investec sees annual profit drop but second half resurgence boosts outlook Investec today said its financial year was a ‘tale of two halves’, with a strong earnings recovery in the second half supported by a resilient client base. Adjusted earnings per share for the year ended 31 March was 28.9p, almost 15 per cent lower than the previous year. Second half earnings shot up to 58 [...]
City Moves: Who is switching jobs in the Square Mile this week? April 21, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. In this week’s City Moves, we have a host of newly created roles making their way across the Square Mile. From chief data officers to directors of environment social and governance – the [...]
Investec to cut 210 London jobs as first-half profit plunges September 18, 2020 Investec today confirmed plans to cut 210 jobs in its London office as it warned profit could fall by up to 60 per cent in the first half of the year. The wealth manager and banking group said the job cuts — which equate to roughly 13 per cent of its UK headcount — were [...]
Investec profit falls amid preparations for asset management demerger November 21, 2019 Investec has reported a drop in profit before tax for the first half “against challenging market conditions”, as the Anglo-South African business group prepares to spin off its asset management business next year. The figures Pre-tax profit fell just over ten per cent to £349m for the six months to 30 September. Investec’s return on [...]
Investec shareholders protest reappointment of auditors KPMG and EY August 9, 2019 Shareholders at Investec have protested against the reappointment of the group’s auditors at its annual general meeting, which also saw protest votes about directors’ remuneration Just over a fifth (20.1 per cent) of votes cast by shareholders opposed the reappointment of KPMG as joint auditor of Johannesburg-listed Investec Ltd, while 16.6 per cent voted against [...]
Rolex giant Watches of Switzerland begins London IPO debut with £650m valuation May 30, 2019 The UK’s largest seller of Rolex watches has begun life as a listed firm in the Square Mile today, having priced its shares towards the top end of the range it had targeted. Investors start trading in Watches of Switzerland on the London Stock Exchange today after the firm priced its shares at 270p, valuing [...]
These are the top 25 best-paying companies in the UK May 23, 2019 A report released today has revealed that the UK's 25 highest paying company's offer staff between £61,000 and £90,000 as a median compensation package. The list by job site Glassdoor is dominated by finance and tech firms, three of which have their headquarters in the UK. John Lamphiere, EMEA managing director at Glassdoor, said: “It [...]
Watches of Switzerland targets £660m London listing May 21, 2019 Luxury retailer Watches of Switzerland said today it is targeting a London float that could hit a valuation of £660m. The company sells luxury watch brands such as Rolex, Patek Philippe, Cartier and Hublot. Read more: Jaguar sues watchmaker Christopher Ward over D-Type watches It has 125 shops in the UK and 21 in the [...]