Investec reports increase in full-year profits despite economic uncertainties

Investec reported a 18.5% increase in full-year statutory operating profits to £599.1m which drove a 6.3% rise in statutory earnings per share to 48.3p.

That was despite the macroeconomic uncertainty impacting its two key markets, according to the company.

Third party assets under management rose 23.9% to £150.7bn on a currency neutral basis.

Capital remained in excess of current regulatory requirements, Investec said, adding that it is comfortable with its common equity tier 1 ratio target of 10.0%.

The board proposed a final dividend of 13.0p, taking the full-year payout to 23.0p.