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Prices & Quotes - UK Markets - Close Brothers Group (CBG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 1,293.00p
Change Today:
-4.00p
Market Cap:
1,944.64m
Sector:
Banks

Close Brothers reports sharp profit rise

By Sean Farrell

Date: Tuesday 28 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Close Brothers reported a sharp rise in annual profit and a hefty dividend increase as the financial services group benefited from rising income and lower impairments.
Operating pretax profit rose 88% to 265.2m in the year to the end of July from a year earlier as operating income increased 10% to 952.6m. Impairment losses on financial assets fell 51% to 89.8m and banking profit more than doubled to 212.5m from 99.2m.

The FTSE 250 group proposed a final dividend of 42p a share taking the annual payout to 60p a share - a 50% increase from a year earlier.

Income increased at all divisions with banking boosted by high new business volumes and the net interest margin strengthening to 7.7% from 7.5%. Asset management income rose 9% and the Winterflood securities business produced a 20% revenue increase helped by high trading volumes.

Chief Executive Adrian Sainsbury said: "We have delivered a strong financial performance in the year and made the most of the opportunities arising as the economy recovers from the effects of Covid-19. We are encouraged by the improvement in the economic outlook, although the trajectory remains uncertain."

Close Brothers shares fell 0.9% to 15.61 at 08:05 BST. The shares have gained more than 50% in 2021.

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CBG Market Data

Currency UK Pounds
Price 1,293.00p
Change Today -4.00p
52 Week High 1,685.00p
52 Week Low 1,278.00p
Volume 308,399
Shares Issued 150.40m
Market Cap 1,944.64m
Beta 1.21

Performance Indicators

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What The Brokers Say

Strong Buy 2
Buy 1
Neutral 7
Sell 1
Strong Sell 0
Total 11
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CBG Dividends

  Latest Previous
  Final Interim
Ex-Div 14-Oct-21 25-Mar-21
Paid 23-Nov-21 28-Apr-21
Amount 42.00p 18.00p

Trades for 30-Nov-2021

Time Volume / Share Price
16:55 4,186 @ 1,293.00p
16:55 693 @ 1,293.00p
16:52 3,666 @ 1,293.00p
16:51 2,759 @ 1,293.00p
16:49 17,694 @ 1,293.00p

CBG Key Personnel

Chair Michael N Biggs