UK-based bank Close Brothers Group plc (CBG.L) reported higher profit attributable to shareholders of 58.8 million pounds in the first half, versus the prior-year figure of 50.5 million pounds, with operating pre-tax profit growing year-over-year to 77.3 million pounds, from 66.8 million pounds. On a per share basis, first-half earnings amounted to 39.7 pence, compared with 34.3 pence in the prior-year period.
Excluding exceptional items and amortisation of intangible assets on acquisition, half-yearly adjusted operating profit totaled 79.8 million pounds, a 26% increase from last year’s 63.2 million pounds, resulting in a 31% growth in adjusted basic earnings per share to 41.8 pence, from 31.9 pence a year ago, reflecting a strong performance in Banking, modestly lower profitability in Securities and a small profit in Asset Management.
Six-month net interest income of 146.9 million pounds, was higher than 130.6 million pounds reported a year before.
Looking forward, in Banking, Close Brothers continue to see solid prospects for loan book growth and anticipate a similar performance in the second half, while Asset Management continues to make progress and remains on track. In addition, the board has declared an interim dividend of 15.0 pence per share, up 7%, reflecting the strong profit growth in the period.
To receive FREE breaking news email alerts for Close Brothers Group PLC and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.comBusiness News