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Group financial highlights

Financial highlights for the year ended 31 July 2021

Adjusted1 operating profit

£270.7m

2020: £144.0m

Adjusted1 basic earnings per share

140.4p

2020: 74.5p

Return on opening equity2

14.5%

2020: 8.0%

Ordinary dividend per share3

60.0p

2020: 40.0p

Loan book

£8.4bn

2020: £7.6bn

Total client assets

£17.0bn

2020: £13.7bn

 

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.

 

  2021 2020

20194

Adjusted1 operating profit (£m)

270.7 144.0

270.5

Operating profit before tax (£m)

265.2 140.9

264.7

Basic EPS (p)

134.8 72.8

133.5

Adjusted1 basic EPS (p)

140.4 74.5

136.7

DPS (p)

60.0 40.0

66.0

Total equity (£bn)

1.6 1.4

1.4

Total assets (£bn)

12.0 11.1

10.6

Common equity tier 1 capital ratio

15.8% 14.1%

13.0%

Return on opening equity

14.5% 8.0%

15.7%

 

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

2021 2020

20194

Operating income (£m)

631.7 586.0

602.6

Adjusted1 operating profit (£m)

212.5 99.2

253.7

Closing loan book (£m)

8,444.5 7,616.7

7,649.6

 

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

2021 2020

2019

Operating income (£m)

139.4 128.2

120.4

Adjusted1 operating profit (£m)

23.7 20.4

21.8

Total client assets (£m)

17,023 13,712

13,324

 

Securities

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

 

Financial overview

2021 2020

2019

Operating income (£m)

182.0 151.9

93.4

Operating profit (£m)

60.9 47.9

20.0

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 consistent with its other businesses, and any exceptional and other adjusting items which do not reflect underlying trading performance. 
2 Adjusted operating profit attributable to shareholders divided by opening equity, excluding non-controlling interests.
3 Represents the final dividend proposed for the respective years together with the interim dividend declared and paid in those years. 
Financial overview presented on the basis of continuing operations, which excludes the unsecured retail point of sale finance business classified as a discontinued operation in the 2019 financial year.