Investec caught out by tough market conditions

By
0 mins. to read
Investec caught out by tough market conditions
Mitch Gunn / Shutterstock.com
Master Investor Magazine

Master Investor Magazine 54Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

Shares in FTSE 250 financial services firm Investec (LON:INVP) dropped by 6.70% to 456.60p (as of 14:00 BST) after it said that challenging market conditions meant that its first-half revenues would below the prior period. Management said that assets under management were up by 6.7% and that the proposed demerger and separate listing for Investec Asset management was on track.

The company now estimates that adjusted earnings per share for the six months ending 30th September will be 4-7% lower than during the previous period.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *