Ninety One, the asset manager spun out of Investec in 2020, suffered a drop in first-half earnings due to severe volatility in financial markets and client outflows precipitated by the war in Ukraine and accelerating global inflation.
The London- and Johannesburg-listed firm, which reports its results in pounds, said basic earnings per share fell 16% to 9.4 pence in the six months to end-September. While adjusted operating profit dropped 7% to £107.9m in the period. The company still managed to declare an interim dividend of 6.5p a share, marginally lower than the 6.9p previously...
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