Investec HY25 adjusted operating profit grew 7.6% to £475mn

Investec, a niche private banking and wealth manager, has reported a mixed operational performance for the first six months to December. The company's adjusted operating profit grew by 7.6% to £475 million, while headline earnings per share dipped slightly by 0.8%. Cumesh Moodlia, CEO of Investec SA, joined CNBC Africa to discuss the company's results and the economic landscape in South Africa and the UK. Moodlia highlighted the impact of the recent interest rate cut by the South African Reserve Bank on consumers and its potential to drive growth in the country. He also touched on increased business confidence following recent developments in the country and the importance of continued structural reforms for sustained growth. Additionally, Moodlia addressed the interest from clients in expanding trade finance opportunities in Africa amidst global volatility. Furthermore, he discussed the challenges and opportunities in the UK market, emphasizing the resilience of clients in the face of economic uncertainties. Overall, Investec remains focused on achieving its full-year return on equity guidance and navigating the evolving economic environments in South Africa and the UK.