Investec increases earnings guidance

The financial services group guided that adjusted earnings per share for the year to the end of March excluding discontinued operations would be 28.9p a share. That figure is less than the 33.9p achieved a year earlier but better than the 24-27p range Investec published on 19 March.

Basic earnings per share on the same basis will rise to 25.2p from 17.5p a year earlier, ahead of the previously announced range of 19.7-22.5p. Headline earnings will rise to 26.6p a share from 21.5p, well ahead of the previous range of 19.5-22.3p a share.

The FTSE 250 company did not give any details or reasons for the better-than-expected numbers. Investec said it expected to publish its annual results on 21 May.

Investec shares rose 1.4% to 286.08p at 09:12 BST.