Group financial highlights

Financial highlights for the year ended 31 July 2024

 Adjusted1 operating profit

£170.6m

2023: £113.5m

Adjusted1 basic earnings per share

76.1p

2023: 55.1p

Return on opening equity2

6.9%

2023: 5.0%

Ordinary dividend per share3

-

2023: 67.5p

Loan book4

£10.1bn

2023: £9.5bn

Total client assets

£20.4bn

2023: £17.3bn

 

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.

 

 

2024

2023

2022

Adjusted1 operating profit (£m)

170.6

113.5

234.8

Statutory Operating profit before tax (£m)

142.0

112.0

232.8

Basic EPS (p)

59.7

54.3

110.4

Adjusted1 basic EPS (p)

76.1

55.1

111.5

DPS (p)

-

67.5

66.0

Total equity (£bn)

1.8

1.6

1.7

Total assets (£bn)

14.1

13.6

12.7

Common equity tier 1 capital ratio

12.8%

13.3%

14.6%

Return on opening equity

6.9%

5.0%

10.6%

 

Close Brothers has a financial year end of 31 July.

Banking

Close Brothers’ Banking division provides specialist and secured lending and deposits for small businesses and individuals. It operates across three businesses: Commercial, Retail and Property. 

 

Financial overview202420232022
Operating income (£m)724.9713.8693.1
Adjusted1 operating profit (£m)178.0120.1227.2
Closing loan book4 (£m)10,098.79,526.29,098.9

 

Asset Management

Close Brothers Asset Management provides investment management and financial planning services to private clients in the UK.

Following the announcement on 19 September 2024 and the receipt of the required regulatory approvals , Close Brothers Group completed the sale of Close Brothers Asset Management to funds managed by Oaktree Capital Management, L.P., on 28 February 2025. 

Close Brothers completes sale of CBAM to Oaktree

 

Financial overview202420232022
Operating income (£m)157.8144.8148.0
Adjusted1 operating profit (£m)12.215.921.7
Total client assets (£m)20,42217,32616,574

 

Securities

Our Securities offering includes Winterflood, which provides market making, investment trusts advisory and broking services, and institutional sales trading. It also includes Winterflood Business Services, which provides outsourced custody and dealing services.

 

Financial overview202420232022
Operating income (£m)73.075.395.2
Operating profit (£m)(1.7)3.514.1

1 Adjusted measures are presented on a basis consistent with prior periods and exclude amortisation of intangible assets on acquisition, to present the performance of the group’s acquired businesses in a manner consistent with its other businesses, and also exclude any exceptional and other adjusting items which do not reflect underlying trading performance. 
2 Adjusted operating profit attributable to ordinary shareholders divided by opening equity, excluding non-controlling interests and other equity instruments.
3 Represents the final dividend proposed for the respective years together with the interim dividend declared and paid in those years. 
4  Loan book includes loans and advances to customers and operating lease assets.

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Close Brothers Group plc
10 Crown Place
London EC2A 4FT

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