18 September 2020 - trading update

The financial services and banking group Investec has issued a trading update for the five month period to 31 August which has warned that profits for the six month period to 30 September are likely be over 50% lower than last year primarily due to the effect of the global pandemic.  This announcement was not unexpected and the group has also confirmed it is to cut over 200 jobs in London as part of a plan to simplify its operations.  However, tangible net asset value (NAV) per share at 30 September is expected to be . . .

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