Close Brothers Group (CBG)

Sector:

Banking

Index:

FTSE 250

1,287.00p
   
  • Change Today:
      22.00p
  • 52 Week High: 1,685.00
  • 52 Week Low: 1,239.00
  • Currency: UK Pounds
  • Shares Issued: 150.45m
  • Volume: 106,125
  • Market Cap: £1,936.28m
  • RiskGrade: 146
  • Beta: 0.03

Close Brothers H1 operating profits tick up

By Iain Gilbert

Date: Tuesday 16 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Merchant banking group Close Brothers said on Tuesday that it had delivered a "strong performance" given the current trading environment, with operating profits ticking up in the six months ended 31 January.

Close Brothers said adjusted operating profits increased 2% to £128.5m, with a return on opening equity of 13.2%, reflecting high new business volumes in its lending unit, solid net inflows in the asset management wing and "a very strong trading performance" in Winterflood.

The group also highlighted that its loan book had increased by 4.4% in the first six months of the year to £7.95bn due to strong demand for loans issued under CBILS and significant new business volumes in motor finance.

Close's annualised bad debt ratio of 1.3% was up on the pre-Covid-19 ratio of 0.9% for the first half of 2020 but down significantly from the 2.3% ratio for the 2020 financial year as a whole.

Chief executive Preben Prebensen said: "We delivered a strong performance in the first half of the year in the context of current market conditions, with the positive trends seen at the end of the last financial year continuing."

While Close declared an interim dividend of 18.0p per share, reflecting its "strong performance" in the first half, given the "continued significant uncertainty" in the external environment, the group said it would make its recommendation on any final dividend in September, subject to its financial performance and outlook at the time.

As of 1030 GMT, Close Brothers shares were down 2.00% at 1,617.0p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CBG Market Data

Currency UK Pounds
Share Price 1,287.00p
Change Today 22.00p
% Change 1.74 %
52 Week High 1,685.00
52 Week Low 1,239.00
Volume 106,125
Shares Issued 150.45m
Market Cap £1,936.28m
Beta 0.03
RiskGrade 146

CBG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.59% above the market average78.59% above the market average78.59% above the market average78.59% above the market average78.59% above the market average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average
Price Trend
64.2% below the market average64.2% below the market average64.2% below the market average64.2% below the market average64.2% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Income
91.27% above the market average91.27% above the market average91.27% above the market average91.27% above the market average91.27% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
77.11% above the market average77.11% above the market average77.11% above the market average77.11% above the market average77.11% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 9
Sell 0
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 26-Jan-2022

Time Volume / Share Price
16:28 6 @ 1,287.00p
16:28 6 @ 1,287.00p
16:28 27 @ 1,287.00p
16:28 2 @ 1,287.00p
16:26 199 @ 1,287.91p

CBG Key Personnel

Chair Michael N Biggs

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