(Sharecast News) – Investec on Friday said it expected to post higher earnings for the first half of the year, boosted by the now-completed merger of its UK wealth and investment business with Rathbones, higher global interest rates and growth in average lending books.
Adjusted pre-tax operating for the six months to August 31 was expected to be in a range of £428.7m- £449.6m, compared with £405m a year ago.
The UK business’ adjusted operating profit is expected to be at least 25% higher than the prior period’s £174.4 million.
Rathbones merger with Investec W&I was completed on Thursday, creating one of the largest discretionary wealth managers in the UK, with £100bn in combined assets.
Information, analytics and e-commerce company Ascential reported gained on a rise in adjusted first-half core profit.
The group reported revenues of £307.4m, an increase from the previous year’s £260.7m, marking a reported revenue jump of 18%.
Adjusted EBITDA rose to £78.6m from the previous £67.2m with a margin of 25.6%.
Market Movers
FTSE 250 (MCX) 18,636.33 -0.01%
FTSE 250 – Risers
Ascential (ASCL) 203.20p 6.78%
Trainline (TRN) 271.40p 4.14%
Investec (INVP) 489.60p 3.73%
TP Icap Group (TCAP) 171.90p 3.37%
Coats Group (COA) 82.00p 3.27%
NCC Group (NCC) 106.20p 3.11%
C&C Group (CDI) (CCR) 144.20p 3.00%
Rathbones Group (RAT) 1,800.00p 2.86%
Mobico Group (MCG) 87.35p 2.10%
Ninety One (N91) 173.10p 2.06%
FTSE 250 – Fallers
Drax Group (DRX) 470.20p -3.94%
SSP Group (SSPG) 217.80p -3.20%
Petershill Partners (PHLL) 156.00p -2.99%
Ceres Power Holdings (CWR) 339.00p -2.53%
Hilton Food Group (HFG) 773.00p -2.28%
Apax Global Alpha Limited (APAX) 163.60p -2.27%
PureTech Health (PRTC) 216.50p -2.26%
TUI AG Reg Shs (DI) (TUI) 482.20p -2.23%
IP Group (IPO) 59.20p -2.15%
Hipgnosis Songs Fund Limited NPV (SONG) 83.90p -1.87%
