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Investec Plc (LON:INVP) has released its pre-close trading update ahead of its full-year results for the FY2020.
- The Groupâs adjusted operating profit is expected to be 7 per cent to 14 per cent lower than FY2019.
- The adjusted earnings per share is expected to be 16 per cent to 23 per cent behind FY2019, primarily due to the challenging market conditions mentioned above and effective tax rate normalisation.
- The Group's cash and near-cash as at 18 March 2020 was reported at £12.4 billion. Capital and leverage ratios remain sound, ahead of internal targets and regulatory requirements.
- The Net asset value of the group is expected to be between 425p-450p, and the tangible net asset value is expected to be between 385p-405p as at 31 March 2020.
- On 20th March 2020, at the time of writing, GMT 08:50 AM, INVP shares were trading at GBX 131.25, down by 7.50 points or 5.41% against the previous day closing price.
