Investec refines some of its disclosures
Johannesburg - International specialist banking
group and asset manager Investec plc [JSE:INP], which has dual listings
in London and Johannesburg, has announced reclassifications and
enhancements to the disclosures for the group's results for the year
ended 31 March 2011.
The group said on Friday that in terms of its recent
presentations and announcements one would be aware that the Investec
Group had positioned its' strategic discussions around three core
business areas namely, Asset Management, Wealth & Investment and
"In some respects the Group feels that it has historically
overcomplicated its external disclosures by elaborating on six core
areas of business. As you would have already seen in the Group's recent
presentations all the banking businesses have been combined under one
broader umbrella of the Specialist Bank," the group added.
As a result it said it had chosen to refine some of its disclosures.
"The Group believes that these refinements provide greater
clarity on the key income and balance sheet drivers of its business."