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Investec Ltd offers specialist banking and wealth & investment services. It provides Investment advisory services, financial planning, stockbroking, lending, treasury solutions, transactional banking, investment activities, and deposit-raising activities.

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Investec Reports Drop In Adjusted Pretax Profit

Investec Ltd

Investec PLC (OTC: <a class="ticker" href="/stock/itcfy#OTC">ITCFY</a>) reported a drop in its pretax profit in the half year ended Sept. 30. 

Investec's pretax profit declined to 199.65 pounds, versus GBP214.29 million, in the year-ago period. Its operating income rose to GBP851.77 million, from GBP849.08 million. 

Investec's earnings per share fell to 15.9 pence from 18.1 pence, while adjusted earnings per share declined to 18.7 pence from 19.4 pence.

Sears Holdings Inc (NASDAQ: <a class="ticker" href="/stock/shld#NASDAQ">SHLD</a>) reported a wider FQ3 loss on Thursday. Sears posted a quarterly loss of $421 million, or $3.95 per share, versus a year-ago loss of $215 million, or $1.98 per share. Sears' adjusted loss came in at $2.57 per share. Its shares outstanding dropped 3.1% to 106.5 million. Sears' sales fell to $9.57 billion from $9.68 billion. However, analysts were expecting a loss of $2.29 per share.

Helmerich &amp; Payne Inc (NYSE: <a class="ticker" href="/stock/hp#NYSE">HP</a>) reported upbeat fourth-quarter results. Helmerich &amp; Payne's quarterly net profit climbed to $121.4 million, or $1.11 per share, from $83 million, or $0.77 per share, in the year-ago period. Its revenue surged 25% to $700.7 million. However, analysts were expecting earnings of $1.04 per share on revenue of $674.1 million.

Williams-Sonoma Inc (NYSE: <a class="ticker" href="/stock/wsm#NYSE">WSM</a>) reported a 19% rise in its fiscal third-quarter net income. Williams-Sonoma's quarterly earnings surged to $43.4 million, or $0.41 per share, from $36.5 million, or $0.34 per share, in the year-ago quarter. Its shares outstanding declined 2.9% to 105.7 million. Williams-Sonoma's revenue rose to $867.2 million from $815.5 million. However, analysts were expecting earnings of $0.38 per share on revenue of $855.7 million. Williams-Sonoma raised its FY12 earnings forecast to an adjusted $2.21 to $2.26 per share versus $1.95 a year ago. Analysts were expecting aernings of $2.22 per share.

Children's Place Retail Stores Inc (NASDAQ: <a class="ticker" href="/stock/plce#NASDAQ">PLCE</a>) reported a rise in its third-quarter profit. Children's Place now projects earnings from continuing operations of $3.24 to $3.29 per share for the year, versus its earlier forecast of $3.13 to $3.25 per share. Children's Place's quarterly earnings rose to $33.7 million, or $1.33 per share, from $31.3 million, or $1.15 per share, in the year-ago period. Its sales gained 7% to $484.1 million.

The J.M. Smucker Co (NYSE: <a class="ticker" href="/stock/sjm#NYSE">SJM</a>) reported a decline in its fiscal second-quarter earnings. Smucker's quarterly earnings dropped to $127.2 million, or $1.12 per share, from $149.7 million, or $1.25 per share, in the year-earlier period. Its sales climbed 18% to $1.5 billion. On an adjusted basis, Smucker earned $1.29 per share. However, analysts were projecting earnings of $1.39 per share on sales of $1.5 billion. For the fiscal year, Smucker expects adjusted earnings of $4.90 to $5 per share, versus analysts' estimates of $5.11 per share.

TransDigm Group Inc (NYSE: <a class="ticker" href="/stock/tdg#NYSE">TDG</a>) reported better-than-expected fourth-quarter results. TransDigm projects 2012 adjusted earnings of $5.35 to $5.67 per share, on sales of $1.43to $1.47 billion. However, analysts were estimating earnings of $5.44 per share on sales of $1.44 billion. TransDigm's quarterly net income surged to $67.4 million, or $1.26 per share, from $50.6 million, or $0.96 per share, in the year-ago period. On an adjusted basis, TransDigm's earnings came in at $1.45 per share. Its sales jumped 54% to $343 million. However, analysts were expecting earnings of $1.24 per share on sales of $331 million.

Dollar Tree Inc (NASDAQ: <a class="ticker" href="/stock/dltr#NASDAQ">DLTR</a>) reported a rise in its third-quarter profit. Dollar Tree's quarterly profit surged to $104.5 million, or $0.87 per share, from $93.2 million, or $0.73 per share, in the year-ago period. Its revenue climbed to $1.60 billion, from $1.43 billion. However, analysts were expecting earnings of $0.83 per share on revenue of $1.58 billion.

Stein Mart Inc (NASDAQ: <a class="ticker" href="/stock/smrt#NASDAQ">SMRT</a>) swung to a fiscal third-quarter loss. Stein Mart posted a quarterly loss of $1.8 million, or $0.04 per share, versus a year-ago profit of $4.3 million, or $0.10 per share. Its sales declined to $258.5 million from $267.9 million. However, analysts were expecting a loss of a penny per share on sales of $258.5 million.

Perry Ellis International Inc (NASDAQ: <a class="ticker" href="/stock/pery#NASDAQ">PERY</a>) reported downbeat third-quarter profit. Perry Ellis reported its quarterly earnings at $6.5 million, or $0.40 per share, down from $7.2 million, or $0.51 per share, in the year-earlier period. Its revenue gained 23% to $248.4 million. However, analysts were expecting earnings of $0.61 per share on revenue of $254.3 million.

Donaldson Co Inc (NYSE: <a class="ticker" href="/stock/dci#NYSE">DCI</a>) reported upbeat first-quarter profit and lifted its FY12 earnings forecast. Donaldson now projects FY12 earnings of $3.25 to $3.50 per share, versus its earlier outlook of $3.15 to $3.45 per share. Donaldson's quarterly net income climbed to $68.6 million, or $0.90 per share, from $53.1 million, or $0.68 per share, in the year-earlier period. Its revenue climbed 13% to $608.3 million. Donaldson's engine product sales surged 18% to $393.7 million. However, analysts were estimating earnings of $0.79 per share on revenue of $621.0 million.

Buckle Inc (NYSE: <a class="ticker" href="/stock/bke#NYSE">BKE</a>) reported a rise in its third-quarter profit. Buckle's quarterly net income climbed to $38.3 million, or $0.82 per share, from $34.4 million, or $0.75 per share, in the year-ago period. On a diluted basis, Buckle's earnings came in at $0.81 per share. Buckle's net sales climbed 12.4% to $273.4 million, from $243.3 million, in the year-ago period. However, analysts were expecting earnings of $0.80 per share on revenue of $268.3 million. Buckle's comparable store net sales surged 9.1%.

National Grid PLC (NYSE: <a class="ticker" href="/stock/ngg#NYSE">NGG</a>) reported a 6% drop in its first-half operating profit. National Grid's operating profit before exceptional items, remeasurements and stranded cost recoveries, dropped to GBP1.42 billion, from GBP1.51 billion, in the year ago period. Analysts were expecting an operating profit of GBP1.44 billion. National Grid's net profit gained 4.6% to GBP795 million from GBP760 million. Its revenue fell 2% to GBP6.31 billion from GBP6.44 billion.

Investec PLC (OTC: <a class="ticker" href="/stock/itcfy#OTC">ITCFY</a>) reported a drop in its adjusted pretax profit for the first fiscal half. Investec's adjusted pretax profit for the period fell to GBP223.6 million, from GBP228.2 million. Its bad loans climbed to GBP143.3 million from GBP122.9 million.

SABMiller PLC (OTC: <a class="ticker" href="/stock/sbmry#OTC">SBMRY</a>) reported a 23% surge in its first-half net profit. SABMiller's net profit for the period rose to $1.38 billion, versus $1.12 billion. Its earnings before interest, taxes and amortization climbed 10% y/y to $2.70 billion from $2.47 billion, versus analysts' estimates of $2.72 billion. SABMiller's revenue surged 10% to $15.69 billion from $14.24 billion.

Royal Ahold NV reported a 15.2% rise in its Q3 net profit. Ahold's quarterly net income rose to EUR257 million. Its income from continuing operations came in at EUR254 million. Ahold's net sales gained 2.5% to EUR6.9 billion. Its operating income climbed 5.3% to EUR300 million.

China Resources Enterprise Ltd (OTC: <a class="ticker" href="/stock/crhky#OTC">CRHKY</a>) reported an 18% drop in its Q3 net profit. China Resources Enterprise's quarterly net profit declined to HK$863 million, from HK$1.06 billion. Its revenue climbed 26% to HK$30.80 billion from HK$24.45 billon. For the nine months ended Sept. 30, China Resources Enterprise's overall profit dipped 54% to HK$2.43 billion, from HK$5.30 billion.

China Sunergy Co Ltd (NASDAQ: <a class="ticker" href="/stock/csun#NASDAQ">CSUN</a>) swung to a Q3 loss. China Sunergy projects a net loss for the fourth quarter. China Sunergy posted a quarterly net loss of $31.2 million, or $0.78 per American depository share (<a class="ticker" href="/stock/ads#">ADS</a>), versus a year-ago net income of $15.3 million, or $37 per ADS. China Sunergy's total sales surged 16% to $145.7 million.

Investec PLC (OTC: <a class="ticker" href="/stock/itcfy#OTC">ITCFY</a>) reported a drop in its adjusted pretax profit for the first fiscal half. 

Investec's adjusted pretax profit for the period fell to GBP223.6 million, from GBP228.2 million. Its bad loans climbed to GBP143.3 million from GBP122.9 million.

Investec PLC (OTC: ITCFY) agreed to buy Evolution Group PLC in an all-stock deal worth 233.2 million pounds ($371.9 million).

The deal values Evolution Group at 100.24 pence per share, representing about 45% premium to the three-month average price.

Investec To Acquire Evolution Group For $372M

Investec

Investec PLC (OTC: <a class="ticker" href="/stock/itcfy#OTC">ITCFY</a>) reported a drop in its pretax profit in the half year ended Sept. 30. 

Investec's pretax profit declined to 199.65 pounds, versus GBP214.29 million, in the year-ago period. Its operating income rose to GBP851.77 million, from GBP849.08 million. 

Investec's earnings per share fell to 15.9 pence from 18.1 pence, while adjusted earnings per share declined to 18.7 pence from 19.4 pence.

Sears Holdings Inc (NASDAQ: <a class="ticker" href="/stock/shld#NASDAQ">SHLD</a>) reported a wider FQ3 loss on Thursday. Sears posted a quarterly loss of $421 million, or $3.95 per share, versus a year-ago loss of $215 million, or $1.98 per share. Sears' adjusted loss came in at $2.57 per share. Its shares outstanding dropped 3.1% to 106.5 million. Sears' sales fell to $9.57 billion from $9.68 billion. However, analysts were expecting a loss of $2.29 per share.

Helmerich & Payne Inc (NYSE: <a class="ticker" href="/stock/hp#NYSE">HP</a>) reported upbeat fourth-quarter results. Helmerich & Payne's quarterly net profit climbed to $121.4 million, or $1.11 per share, from $83 million, or $0.77 per share, in the year-ago period. Its revenue surged 25% to $700.7 million. However, analysts were expecting earnings of $1.04 per share on revenue of $674.1 million.

Williams-Sonoma Inc (NYSE: <a class="ticker" href="/stock/wsm#NYSE">WSM</a>) reported a 19% rise in its fiscal third-quarter net income. Williams-Sonoma's quarterly earnings surged to $43.4 million, or $0.41 per share, from $36.5 million, or $0.34 per share, in the year-ago quarter. Its shares outstanding declined 2.9% to 105.7 million. Williams-Sonoma's revenue rose to $867.2 million from $815.5 million. However, analysts were expecting earnings of $0.38 per share on revenue of $855.7 million. Williams-Sonoma raised its FY12 earnings forecast to an adjusted $2.21 to $2.26 per share versus $1.95 a year ago. Analysts were expecting aernings of $2.22 per share.

Children's Place Retail Stores Inc (NASDAQ: <a class="ticker" href="/stock/plce#NASDAQ">PLCE</a>) reported a rise in its third-quarter profit. Children's Place now projects earnings from continuing operations of $3.24 to $3.29 per share for the year, versus its earlier forecast of $3.13 to $3.25 per share. Children's Place's quarterly earnings rose to $33.7 million, or $1.33 per share, from $31.3 million, or $1.15 per share, in the year-ago period. Its sales gained 7% to $484.1 million.

The J.M. Smucker Co (NYSE: <a class="ticker" href="/stock/sjm#NYSE">SJM</a>) reported a decline in its fiscal second-quarter earnings. Smucker's quarterly earnings dropped to $127.2 million, or $1.12 per share, from $149.7 million, or $1.25 per share, in the year-earlier period. Its sales climbed 18% to $1.5 billion. On an adjusted basis, Smucker earned $1.29 per share. However, analysts were projecting earnings of $1.39 per share on sales of $1.5 billion. For the fiscal year, Smucker expects adjusted earnings of $4.90 to $5 per share, versus analysts' estimates of $5.11 per share.

TransDigm Group Inc (NYSE: <a class="ticker" href="/stock/tdg#NYSE">TDG</a>) reported better-than-expected fourth-quarter results. TransDigm projects 2012 adjusted earnings of $5.35 to $5.67 per share, on sales of $1.43to $1.47 billion. However, analysts were estimating earnings of $5.44 per share on sales of $1.44 billion. TransDigm's quarterly net income surged to $67.4 million, or $1.26 per share, from $50.6 million, or $0.96 per share, in the year-ago period. On an adjusted basis, TransDigm's earnings came in at $1.45 per share. Its sales jumped 54% to $343 million. However, analysts were expecting earnings of $1.24 per share on sales of $331 million.

Dollar Tree Inc (NASDAQ: <a class="ticker" href="/stock/dltr#NASDAQ">DLTR</a>) reported a rise in its third-quarter profit. Dollar Tree's quarterly profit surged to $104.5 million, or $0.87 per share, from $93.2 million, or $0.73 per share, in the year-ago period. Its revenue climbed to $1.60 billion, from $1.43 billion. However, analysts were expecting earnings of $0.83 per share on revenue of $1.58 billion.

Stein Mart Inc (NASDAQ: <a class="ticker" href="/stock/smrt#NASDAQ">SMRT</a>) swung to a fiscal third-quarter loss. Stein Mart posted a quarterly loss of $1.8 million, or $0.04 per share, versus a year-ago profit of $4.3 million, or $0.10 per share. Its sales declined to $258.5 million from $267.9 million. However, analysts were expecting a loss of a penny per share on sales of $258.5 million.

Perry Ellis International Inc (NASDAQ: <a class="ticker" href="/stock/pery#NASDAQ">PERY</a>) reported downbeat third-quarter profit. Perry Ellis reported its quarterly earnings at $6.5 million, or $0.40 per share, down from $7.2 million, or $0.51 per share, in the year-earlier period. Its revenue gained 23% to $248.4 million. However, analysts were expecting earnings of $0.61 per share on revenue of $254.3 million.

Donaldson Co Inc (NYSE: <a class="ticker" href="/stock/dci#NYSE">DCI</a>) reported upbeat first-quarter profit and lifted its FY12 earnings forecast. Donaldson now projects FY12 earnings of $3.25 to $3.50 per share, versus its earlier outlook of $3.15 to $3.45 per share. Donaldson's quarterly net income climbed to $68.6 million, or $0.90 per share, from $53.1 million, or $0.68 per share, in the year-earlier period. Its revenue climbed 13% to $608.3 million. Donaldson's engine product sales surged 18% to $393.7 million. However, analysts were estimating earnings of $0.79 per share on revenue of $621.0 million.

Buckle Inc (NYSE: <a class="ticker" href="/stock/bke#NYSE">BKE</a>) reported a rise in its third-quarter profit. Buckle's quarterly net income climbed to $38.3 million, or $0.82 per share, from $34.4 million, or $0.75 per share, in the year-ago period. On a diluted basis, Buckle's earnings came in at $0.81 per share. Buckle's net sales climbed 12.4% to $273.4 million, from $243.3 million, in the year-ago period. However, analysts were expecting earnings of $0.80 per share on revenue of $268.3 million. Buckle's comparable store net sales surged 9.1%.

National Grid PLC (NYSE: <a class="ticker" href="/stock/ngg#NYSE">NGG</a>) reported a 6% drop in its first-half operating profit. National Grid's operating profit before exceptional items, remeasurements and stranded cost recoveries, dropped to GBP1.42 billion, from GBP1.51 billion, in the year ago period. Analysts were expecting an operating profit of GBP1.44 billion. National Grid's net profit gained 4.6% to GBP795 million from GBP760 million. Its revenue fell 2% to GBP6.31 billion from GBP6.44 billion.

Investec PLC (OTC: <a class="ticker" href="/stock/itcfy#OTC">ITCFY</a>) reported a drop in its adjusted pretax profit for the first fiscal half. Investec's adjusted pretax profit for the period fell to GBP223.6 million, from GBP228.2 million. Its bad loans climbed to GBP143.3 million from GBP122.9 million.

SABMiller PLC (OTC: <a class="ticker" href="/stock/sbmry#OTC">SBMRY</a>) reported a 23% surge in its first-half net profit. SABMiller's net profit for the period rose to $1.38 billion, versus $1.12 billion. Its earnings before interest, taxes and amortization climbed 10% y/y to $2.70 billion from $2.47 billion, versus analysts' estimates of $2.72 billion. SABMiller's revenue surged 10% to $15.69 billion from $14.24 billion.

Royal Ahold NV reported a 15.2% rise in its Q3 net profit. Ahold's quarterly net income rose to EUR257 million. Its income from continuing operations came in at EUR254 million. Ahold's net sales gained 2.5% to EUR6.9 billion. Its operating income climbed 5.3% to EUR300 million.

China Resources Enterprise Ltd (OTC: <a class="ticker" href="/stock/crhky#OTC">CRHKY</a>) reported an 18% drop in its Q3 net profit. China Resources Enterprise's quarterly net profit declined to HK$863 million, from HK$1.06 billion. Its revenue climbed 26% to HK$30.80 billion from HK$24.45 billon. For the nine months ended Sept. 30, China Resources Enterprise's overall profit dipped 54% to HK$2.43 billion, from HK$5.30 billion.

China Sunergy Co Ltd (NASDAQ: <a class="ticker" href="/stock/csun#NASDAQ">CSUN</a>) swung to a Q3 loss. China Sunergy projects a net loss for the fourth quarter. China Sunergy posted a quarterly net loss of $31.2 million, or $0.78 per American depository share (<a class="ticker" href="/stock/ads#">ADS</a>), versus a year-ago net income of $15.3 million, or $37 per ADS. China Sunergy's total sales surged 16% to $145.7 million.

Investec PLC (OTC: <a class="ticker" href="/stock/itcfy#OTC">ITCFY</a>) reported a drop in its adjusted pretax profit for the first fiscal half. 

Investec's adjusted pretax profit for the period fell to GBP223.6 million, from GBP228.2 million. Its bad loans climbed to GBP143.3 million from GBP122.9 million.

Investec PLC (OTC: ITCFY) agreed to buy Evolution Group PLC in an all-stock deal worth 233.2 million pounds ($371.9 million).

The deal values Evolution Group at 100.24 pence per share, representing about 45% premium to the three-month average price.


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