Financial services firm says Brexit and global trade tensions hurt performance
Johannesburg — Anglo-SA financial services firm Investec said on Thursday its first-half profit fell 17.2% after a weak performance in UK specialist banking.
Headline earnings per share, the main profit measure in SA, was 22.7p in the six months to September 30, compared with 27.4p a year earlier, Investec said. Joint CEOs Fani Titi and Hendrik du Toit said in a statement that Investec was pleased it had managed to grow assets under management, its loan book and customer deposits in a challenging environment.
Investec said in September its performance had been hurt by the effect of global trade tensions and Brexit in its key markets, as well as a jump in costs related to the closure and restructuring of some of its businesses.
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