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Investec flags up to 29% full-year profit drop

Adjusted earnings per share down from a year earlier.
Image: Shutterstock

Investec said on Friday that its profit in the year to March 31 was likely to fall by up to 29%.

The firm said it expected adjusted earnings per share, which reflect profits on ordinary operations of 24-27 pence, down from 33.9 pence a year earlier reflecting its spin-off of asset manager Ninety One.

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I think the SA banks are in deep trouble – profits crashed – dividends are suspended.

The last Banking share that I would keep in my portfolio will beInvestec’s!

End of comments.

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