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Group financial highlights

Financial highlights for the year ended 31 July 20201

Adjusted operating profit

£144.0m

2019: £270.5m

Adjusted basic earnings per share

74.5p

2019: 136.7p

Return on opening equity

8.0%

2019: 15.7%

Ordinary dividend per share

40.0p

2019: 66.0p

Loan book

£7.6bn

2019: £7.6bn

Total client assets

£13.7bn

2019: £13.3bn

1 Financial Highlights presented on the basis of continuing operations, which exclude the unsecured retail point of sale finance business classified as a discontinued operation for the 2019 financial year and sold on 1 January 2019.

Group financial overview

Close Brothers operates through three divisions: Banking, Securities and Asset Management. Below is a summary of the group’s financial performance over the last three years including an overview of our divisions.

 

  2020

20191

20181

Adjusted operating profit (£m)1

144.0

270.5

278.6

Operating profit before tax (£m)

140.9

264.7

271.2

Basic EPS (p)

72.8

133.5

136.2

Adjusted basic EPS (p)

74.5

136.7

140.2

DPS (p)

40.0

66.0

63.0

Total equity (£bn)

1.4

1.4

1.3

Total assets (£bn)

11.1

10.6

10.3

Common equity tier 1 capital ratio

14.1%

13.0%

12.7%

Return on opening equity

8.0%

15.7%

17.0%

 

1 Financial overview presented on the basis of continuing operations, which excludes the unsecured retail point of sale finance business classified as a discontinued operation.

Close Brothers has a financial year end of 31 July.

 

Banking

Close Brothers’ Banking division provides lending to small businesses and individuals, with an emphasis on specialist finance. We also offer deposit taking services to UK businesses and individuals.

The division has three lending segments: Commercial, Retail and Property. Treasury manages our overall funding and liquidity requirements.

 

Financial overview

2020

20191

20181

Operating income (£m)

586.0

602.6

581.0

Adjusted operating profit (£m)

99.2

253.7

251.8

Closing loan book (£m)

7,616.7

7,649.6

7,297.5

 

1 Financial overview presented on the basis of continuing operations, which excludes the unsecured retail point of sale finance business classified as a discontinued operation.

 

Asset Management

Close Brothers Asset Management provides a range of financial advice, investment management and online investing services, helping clients to secure their financial future.

 

Financial overview

2020

2019

2018

Operating income (£m)

128.2

120.4

115.5

Adjusted operating profit (£m)

20.4

21.8

23.1

Total client assets (£m)

13,712

13,324

12,219

 

Securities

In Securities, we provide trading services in the UK through Winterflood, a leading market-maker.

 

Financial overview

2020

2019

2018

Operating income (£m)

151.9

93.4

109.1

Operating profit (£m)

47.9

20.0

28.1