Investec says UK profits to jump 125% as full year EPS guidance raised

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Looking ahead to the full year, Investec forecast adjusted EPS above the upper end of its previous guidance for 36p-41p, based on current business momentum () expects profit for the first half to almost double due to strong revenue growth, increased client activity and lower costs. The bank and wealth management company said profits from the UK are set to jump 125% with a 50% hike in its Southern African business.   Adjusted operating profit before tax for the six months to 30 September 2021 will come in between £265mln-£293mln, compared with £142.5mln in the same period last year. Adjusted earnings per share (EPS) was flagged between 21.5p and 24p, up from 11.2p. Adjusted operating profit from group investments is expected to be ahead of last year as investee companies' profitability recovered given the improving economic environment. Group costs are also set to fall. The group said it is well capitalised and has strong liquidity. Looking ahead to th
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