Fin24

Investec refines some of its disclosures

2012-05-11 11:01

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 Specialist Banking.

"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."