INVESTMENT bank Genbel Securities (Gensec) said on Wednesday it is on track to exceed its earnings for last year, earning 173 cents a share for the six months to June 30. While this is 2 cents less than last year’s 175 cents per share for the same period, financial markets then were healthy and now have felt a year of battering. The figures also represent an 80% recovery from the second half of 1998, when financial markets and firms took a hit on the Asian currency crisis and the rand crash. Predicting similar results for the second half of the year, Gensec should easily beat last year’s cumulative earnings of 271 cents per share. For the interim period, Gensec’s attributable income was R438-million, 6% higher than the figure for the first half of 1998, and 87% higher than the second half. Group revenue rose 13% from R694-million to R783-million and expenses climbed 24%, from R159-million to R198-million.