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S.Africa's Investec warns profits could fall by 23% as coronavirus bites

Reuters - UK Focus

JOHANNESBURG, March 20 (Reuters) - South Africa's Investec said on Friday that its full-year profits would drop by up to 23%, with coronavirus expected to deal a further blow to the firm already struggling with tough global conditions.

The financial services group said its adjusted earnings per share, which reflect profits made in the course of its ordinary operations, would be between 16% and 23% lower in the year to March 31. (Reporting by Emma Rumney; Editing by Jon Boyle)