Group financial highlights
Financial highlights for the year ended 31 July 2023
Adjusted1 operating profit
£113.5m
2022: £234.8m
Adjusted1 basic earnings per share
55.1p
2022: 111.5p
Return on opening equity2
5.0%
2022: 10.6%
Ordinary dividend per share3
67.5p
2022: 66.0p
Loan book4
£9.5bn
2022: £9.1bn
Total client assets
£17.3bn
2022: £16.6bn
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.
| 2023 | 2022 |
2021 |
|
|---|---|---|---|
|
Adjusted1 operating profit (£m) |
113.5 | 234.8 |
270.7 |
|
Operating profit before tax (£m) |
112.0 | 232.8 |
265.2 |
|
Basic EPS (p) |
54.3 | 110.4 |
134.8 |
|
Adjusted1 basic EPS (p) |
55.1 | 111.5 |
140.4 |
|
DPS (p) |
67.5 | 66.0 |
60.0 |
|
Total equity (£bn) |
1.6 | 1.7 |
1.6 |
|
Total assets (£bn) |
13.6 | 12.7 |
12.0 |
|
Common equity tier 1 capital ratio |
13.3% | 14.6% |
15.8% |
|
Return on opening equity |
5.0% | 10.6% |
14.5% |
Close Brothers has a financial year end of 31 July.
Banking
Close Brothers’ Banking division provides lending predominantly 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 |
2023 | 2022 |
2021 |
|---|---|---|---|
|
Operating income (£m) |
713.8 | 693.1 |
631.7 |
|
Adjusted1 operating profit (£m) |
120.1 | 227.2 |
212.5 |
|
Closing loan book4 (£m) |
9,526.2 | 9,098.9 | 8,667.4 |
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 |
2023 | 2022 |
2021 |
|---|---|---|---|
|
Operating income (£m) |
144.8 | 148.0 |
139.4 |
|
Adjusted1 operating profit (£m) |
15.9 | 21.7 |
23.7 |
|
Total client assets (£m) |
17,326 | 16,574 |
17,023 |
Securities
In Securities, we provide trading services in the UK through Winterflood, a leading market-maker.
|
Financial overview |
2023 | 2022 |
2021 |
|---|---|---|---|
|
Operating income (£m) |
75.3 | 95.2 |
182.0 |
|
Operating profit (£m) |
3.5 | 14.1 |
60.9 |