Shares in Investec PLC (LSE:INVP) were up 3% following its pre-close trading update for the fiscal year ending March in which it said earnings have grown in double digits after a transformational year.
The financial services group, following extensive restructuring, merged its Investec Wealth & Investment UK with Rathbones Group, divested its property management companies to what is now Burstone Group, and streamlined Bud Group Holdings for sale.
Additionally, after spinning off Ninety One and selling its stake in 2021, Investec repurchased £300 million in shares.
The group anticipates adjusted earnings per share between 76p and 80p, reflecting a 10% to 16% increase over the previous year.
With basic earnings per share estimated between 102.9p and 106.8p, Investec expects an adjusted operating profit before tax ranging from £866.9 million to £909.6 million, aligning with its high return on equity target.
At 8.32 am, the stock was up 13.6p at 504.6p.