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May 23, 2014updated 12 Apr 2017 3:58pm

Investec posts healthy growth

Investec’s results for the year ending 31 March 2014 revealed the group’s operating profits increased 28% to R7,328m (€517m), with UK operating profits increasing 24.4%.

By Jonathan Minter

Investec’s results for the year ending 31 March 2014 revealed the group’s operating profits increased 28% to R7,328m (€517m), with UK operating profits increasing 24.4%.

Although the Group did not provide a breakdown of the results to individual products or departments, they did note: "good growth in its professional mortgages and asset finance loan portfolio.

Mike Francis, Investec head of Asset Finance, told Leasing Life that Investec Asset Finance had increased its book size.

He added Investec had moved into a new area through the appointment of a new material handling team, and that key growth areas were small ticket volumes, expanding middle ticket offering and developing the material handling operation.

Looking ahead, Frances said "Outlook for next year is positive as the UK economy continues to recover. Asset Finance plays a crucial role in the financing of SMEs – the backbone of the UK economy."

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