Investec (LSE:INVP), the specialist bank and wealth manager listed in London and Johannesburg, said it expects results for the six months to 30 September in line with guidance issued in May.
Adjusted earnings per share is forecast at 41.7p to 43.3p, up 3% to 7% on the 40.5p reported in the first half of the 2026 financial year.
Headline earnings per share is guided at 38.1p to 39.7p, a rise of 4% to 8%, while adjusted operating profit before tax is expected between £479.2 million and £496.2 million, against £468.1 million a year earlier.
The performance splits sharply by geography. Southern African adjusted operating profit is expected up to 14% ahead in pounds sterling, with return on equity between 18.5% and 19.0%, near the top of its guided range. The UK business, including Investec's stake in Rathbones, is expected to report operating profit down 2% to 6%, with the UK Specialist Bank down 3% to 7% and return on tangible equity near the bottom of its 12.5% to 13.5% target range.
"Stable year to date financial performance was underpinned by disciplined execution, strong client franchises, continued balance sheet growth and sound asset quality," the group said.
Core loans in Specialist Banking rose 10.3% annualised in reported currency to £37.0 billion over the five months to 31 August, aided by Rand strength, while customer deposits climbed to £46.0 billion.
Funds under management in the Southern African wealth business increased 13.8% since 31 March to £30.7 billion.
Group return on equity is guided at 13.1% to 13.5%, within its 13.0% to 14.0% target range, ahead of interim results due 19 November.
