LONDON (dpa-AFX) - Investec Plc (INVP.L) said that operating profit before goodwill, acquired intangibles, non-operating items and taxation and after non-controlling interests, for the nine months ended 31 December 2011 is 5.6% behind the prior year. The group recorded an increase in total operating income net of insurance claims and depreciation of leased assets of 4.6%. Net interest income was 7.7% ahead, while net fees and commissions were 16.3% ahead of the prior year. Recurring income as a percentage of total operating income totaled approximately 69%. The company noted that against a backdrop of volatile markets and low levels of activity the third quarter of the group's 2012 financial year has proven to be challenging. The asset management and wealth management businesses continued to see net inflows however overall assets under management pre the acquisition of Evolution Group plc declined. The Specialist Banking businesses benefited from growth in both margin and fee income but earnings from principal activities decreased substantially.
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