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Highlights
- Investec secured 8.6% YoY increase in total operating income before expected credit losses in FY23.
- There has been a 14.8% YoY surge in the company's interim dividend per share in H1 FY24.
- The company’s Return on Tangible Equity rose to 16.4% in H1 FY24 from 13.8% in H1 FY23.
FTSE 250 index listed Investec PLC (LSE:INVP) is a specialist bank and asset management company engaged in serving a selective client base with wealth and investment products and services.
In the fiscal year 2023, Investec secured 8.6% year-on-year (YoY) increase in total operating income before expected credit losses. The basic earnings per share witnessed a 37.5% YoY growth in FY23.
There has been a 14.8% YoY surge in the company's interim dividend per share in the first half of the fiscal year 2024. Furthermore, INVP will pay a final dividend of 15.50 pence per share later this month, with an ex-dividend date of 07 December 2023.
The company’s Return on Tangible Equity rose to 16.4% in H1 FY24 from 13.8% in H1 FY23. Also, the cost to income ratio has decreased to 53.3% in H1 FY24 from 55.6% in H1 FY23.
The company is expecting its revenue momentum to sustain in FY24, following moderate loan book growth, increased interest rates, client acquisition and activity levels. In FY24, the ROE is likely to remain above the mid-point of the target range of 12% to 16%. INVP’s overall costs is expected to be contained with cost to income ratio to be under 55%.
Top 10 Shareholders:
Around 57.81% of the total shareholdings is being held by its top ten shareholders. While Public Investment Corporation (SOC) Limited is the biggest shareholder of the company with around 14.43% shareholding, BlackRock Institutional Trust Company, N.A. is the second biggest shareholder with over 7% shareholding.
Stock Price Performance
INVP’s stock price has dropped by approximately 1.65% in the last one month. It has gained around 5.65% over the last six months. The stock’s 52-week low and high price are GBX 401.00 and GBX 556.20, respectively.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 08 December 2023. The reference data in this report has been partly sourced from EODHD/Others.
