Group financial highlights
FY 2017 financial highlights
Adjusted operating profit
£264.8m
FY 2016: £233.6m
Adjusted basic earnings per share
131.7p
FY 2016: 128.4p
Return on opening equity
17.9%
FY 2016: 18.9%
Ordinary dividend per share
60.0p
FY 2016: 57.0p
Loan book
£6.9bn
FY 2016: £6.4bn
Total client assets
£11.2bn
FY 2016: £9.9bn
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.
Continuing operations | 2017 | 2016 | 2015 |
|---|---|---|---|
Adjusted operating profit (£m)1 | 264.8 | 233.6 | 224.9 |
Operating profit before tax (£m) | 258.6 | 228.5 | 219.9 |
Basic EPS (p) | 128.3 | 125.7 | 117.8 |
Adjusted basic EPS (p) | 131.7 | 128.4 | 120.5 |
DPS (p) | 60.0 | 57.0 | 53.5 |
Total equity (£bn) | 1.2 | 1.1 | 1.0 |
Total assets (£bn) | 9.3 | 8.7 | 8.0 |
Common equity tier 1 capital ratio | 12.6% | 13.5% | 13.7% |
Return on opening equity | 17.9% | 18.9% | 19.5% |
1 The disposal of Close Brothers Seydler was completed on 5 January 2015. The profit on disposal of £10.3 million and profit after tax of £0.9 million have been classified as discontinued operations.
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: Retail, Commercial and Property. Treasury manages our overall funding and liquidity requirements.
The latest financial results are: | 2017 | 2016 | 2015 |
|---|---|---|---|
Operating income1 (£m) | 555.3 | 511.2 | 481.9 |
Adjusted operating profit (£m) | 243.5 | 223.0 | 208.7 |
Closing loan book (£m) | 6,884.7 | 6,431.6 | 5,737.8 |
1 As announced on 13 September 2016, operating income has been adjusted to deduct depreciation of operating lease assets. Operating income in 2015 has been re-presented accordingly.
Latest presentation
Securities
In Securities, we provide trading services in the UK through Winterflood, a leading market-maker.
The latest financial results1 are: | 2017 | 2016 | 2015 |
|---|---|---|---|
Operating income (£m) | 106.7 | 82.3 | 94.6 |
Operating profit (£m) | 28.1 | 19.0 | 24.6 |
1 The disposal of Close Brothers Seydler was completed on 5 January 2015. The operating profit of £1.3 million and profit on disposal of £10.3 million have been classified as discontinued operations. Operating profit in 2015 is up until the point of disposal.
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.
The latest financial results are: | 2017 | 2016 | 2015 |
|---|---|---|---|
Operating income (£m) | 102.9 | 92.3 | 95.6 |
Adjusted operating profit (£m) | 17.4 | 14.4 | 17.8 |
Toal client assets (£m) | 11,157 | 9,901 | 10,793 |