While most regions are expected to have performed better than the previous year, analysts expect dual-listed UK and South African specialist banking group Investec's (INP, INL) results for the last financial year ended March to be somewhat subdued.

Analysts are looking at headline earnings per share of between 100 and 102 UK pence - which would represent an increase of about 10% or a little more - and a dividend of around 30 UK pence.

In rand terms, however - the company reports in sterling - this would reflect a slight decrease in earnings. A survey of analysts by I-Net Bridge points to earnings in rand terms of 1,261.5 cents compared with HEPS of

1,367 cents the previous year.

The group has intimated that results for the majority of its businesses for the second half of the year have broadly matched those for the first six months.

Investec CEO Stephen Koseff told a recent investor briefing however that the group's UK, European and Australian operations continued to show improved results in comparison to last year, and South Africa should enjoy better second half results with an improved performance from Treasury and Specialised Finance and a strong performance from the Property Division.

Israel had also performed better than expected in the past few months, he said. However, the performance from the group's US operations remained modest, "as we are not taking much risk in that kind of environment," Koseff said in March.

Analysts say strong performances are expected from the group's investment banking and private client activities both in South Africa and the UK. But a substantially improved performance is expected from the majority of its operational divisions.

I-Net Bridge