Director dealings: Investec founder lowers stake

Investec founder Ian Kantor disposed of 200,000 ordinary shares in the FTSE 250-listed financial services outfit.

Kantor, who started the company as a small leasing and financing company in Johannesburg in 1974, sold the shares at an average price of 484p, for a total value of £968,300.80.

Back in November, Investec issued its results for the six months ended 30 September, reporting a “sound” operational performance.

Invested noted that was notwithstanding a “challenging” operating environment, with rising US interest rates, the threat of trade wars, concerns over global growth prospects, weak economic growth in South Africa, and Brexit-related uncertainty in the UK contributing to that.

Operating profit before goodwill, acquired intangibles, non-operating items and taxation and after other non-controlling interests increased 14.2% to £359.3m year-on-year or 17.6% on a currency-neutral basis.

As of 1645 GMT, Investec shares had inched ahead 0.43% to 488p.