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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Close Brothers Group Plc | LSE:CBG | London | Ordinary Share | GB0007668071 | ORD 25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.00 | 0.43% | 468.20 | 466.20 | 469.20 | 479.80 | 465.00 | 465.00 | 328,568 | 16:29:40 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Asset - Backed Securities | 1.01B | 81.1M | - | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCBG
RNS Number : 6427W
Close Brothers Group PLC
16 November 2017
Scheduled Trading Update
Close Brothers Group plc ("the group" or "Close Brothers") today issues its trading update for the first quarter from 1 August 2017 to 31 October 2017 ("the quarter"). All statements in this release relate to that period unless otherwise indicated.
Group and divisional performance
Close Brothers has made a good start to the year with continued strong profitability across all three divisions.
The Banking division delivered a good performance in the first quarter with loan book growth and stable margin.
The loan book increased 1.4% in the period to GBP7.0 billion (31 July 2017: GBP6.9 billion), driven by good growth in Property and Premium Finance. As expected, the Asset and Motor Finance loan books remained broadly flat, as we maintain our underwriting and pricing discipline.
Both the net interest margin and bad debt ratio remained in line with the last financial year, and we have not seen any significant change in credit performance or trading conditions.
Winterflood benefited from continued retail investor trading activity.
The Asset Management division continued to benefit from strong net inflows as well as positive market movements, with managed assets increasing 6.5% to GBP9.5 billion (31 July 2017: GBP8.9 billion) and total client assets growing to GBP11.7 billion (31 July 2017: GBP11.2 billion).
Outlook
We achieved a good performance in the first quarter and, at this early stage, remain well positioned for the remainder of the financial year.
About Close Brothers
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. We employ over 3,200 people, principally in the UK. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.
Enquiries
Sophie Gillingham Close Brothers Group plc 020 7655 3844 Eva Hatfield Close Brothers Group plc 020 7655 3350 Liya Dashkina Close Brothers Group plc 020 7655 3468 Andy Donald Maitland 020 7379 5151
This information is provided by RNS
The company news service from the London Stock Exchange
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November 16, 2017 02:00 ET (07:00 GMT)
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