Close Brothers Share Discussion Threads

[mortimer7] 21/7/2017 08:34

Pleased with update. All indications of year on year growth.
Share price has fallen back slightly from the 1700+ highs in early May, but essentially due to macroeconomic factors rather than anything company specific. Which, looking ahead, I believe is the only thing that could hold this back.

[cwa1] 21/7/2017 08:20

Morning

A very solid sounding TS this am. Decided to have a few at 1496p, fingers crossed now:-

The group will report results for the year to 31 July 2017 on 26 September 2017.

Group and divisional performance

The group has continued to perform well across all divisions, consistent with our Q3 trading update.

The Banking division has delivered continued growth and good returns, with the loan book up 6.4% year to date at GBP6.8 billion (31 July 2016: GBP6.4 billion).

Property Finance continued to perform well, with solid demand and strong loan book growth. Retail Finance benefited from strong growth in the premium finance business, while we continue to prioritise margins and credit quality in motor finance. Commercial Finance growth remained modest, consistent with the current point in the cycle.

Overall, the bad debt ratio remains in line with the prior year and the net interest margin also remained broadly stable, as we continue to apply our prudent and consistent lending criteria across all of our businesses.

Winterflood delivered a good performance year to date supported by continued strong retail trading activity throughout the period.

Asset Management continued to achieve strong net inflows and benefit from positive market movements. As a result, managed assets are up 9% year to date at GBP8.8 billion (31 July 2016: GBP8.0 billion) and total client assets grew 11% to GBP11.0 billion (31 July 2016: GBP9.9 billion).

Outlook

The group has performed well year to date and we remain confident in a good result for the current financial year.

[its the oxman] 12/7/2017 10:11

Bought back a few today 1470p. Hoping trading update and Sep results get us moving up again.

[suetballs] 06/7/2017 12:48

Took a few more today.
Suet

[its the oxman] 19/5/2017 07:56

Strong trading update today.

[its the oxman] 11/5/2017 08:53

Good timing. Also sold half my holding over 1700p. Other opportunities to pursue , but expect this to recover though.

[cwa1] 24/4/2017 08:36

OK, I've had an excellent run here and bagged some healthy dividends along the way. Things seem frothy this morning across the market generally and CBG has moved a touch with it. So I've decided to take a hefty profit and hop off the train for now. I usually sell way too early, so you guys that remain have probably got plenty still to go for, good fortune all :-)

[its the oxman] 14/3/2017 08:28

Yes. Very positive results. Should hopefully climb higher from here.

[pugugly] 14/3/2017 07:31

Excellent results - All metrics seem to be up (on a quick scan).

[its the oxman] 07/2/2017 10:02

Feels ready to break through 1500p.

[santar] 01/2/2017 12:01

Specialist bank Close Brothers falls 3.6% after Barclays cuts to "equalweight" from "overweight"

[cwa1] 20/1/2017 07:43

Upbeat update just released:-

[cwa1] 17/11/2016 09:35

Very solid, like it.

[its the oxman] 17/11/2016 08:17

Really positive update. Shares should move up.

[mortimer7] 16/11/2016 16:22

Trading update is due tomorrow for the quarter to 31st October

[its the oxman] 10/10/2016 10:25

Good results and chunky div to collect in a few days time.

[emeraldzebra] 30/9/2016 08:49

one at a time please !! lol

[emeraldzebra] 27/9/2016 09:13

Agreed---but it seems a little odd that the shares should go through the roof 1st thing and then dive !?

[deadly] 27/9/2016 08:56

Great results this morning, EPS and divi up 7%.
Good outlook too.

[its the oxman] 08/6/2016 10:29

Thought 2000p could be achieved when this was over 1600p and life was rosy. That was some time ago now and how wrong was I. That said company is still doing well but financials have fallen out of favour. Patience required I guess. Certainly attractive at 1300p.

[its the oxman] 20/5/2016 07:44

Yep, nice update and shares still feel very under appreciated by Mr Market.

[cwa1] 20/5/2016 07:16

Sounds decent to my innocent little ears:-

20 May 2016

Close Brothers Group plc ("the group" or "Close Brothers") today issues its scheduled trading update for the third quarter from 1 February 2016 to 30 April 2016 ("the quarter"). All statements in this release relate to that period unless otherwise indicated.

Group and divisional performance

We delivered an improved performance in the quarter, with good loan book growth, tighter cost control and better market conditions for Winterflood.

The Banking division continues to see robust demand for our specialist lending services with good levels of new business. The loan book increased 4.0% in the quarter and is up 8.2% year to date to GBP6.2 billion (31 January 2016: GBP6.0 billion), benefiting from strong growth in our leasing products and a seasonal uplift in motor finance.

The return on net loan book remains strong, as both the net interest margin and bad debt ratio have remained broadly in line with the first half. The rate of growth in expenses was lower than the first half as we continue to tighten cost control whilst maintaining investment in the business and in new growth initiatives.

Winterflood's performance improved following a difficult first half, with increased profitability across all trading books reflecting a modest recovery in the equity markets and improved investor risk appetite. However, the business remains sensitive to an unpredictable market.

Asset Management continued to achieve solid net inflows in managed assets, which increased 4% to GBP7.5 billion (31 January 2016: GBP7.3 billion). Total client assets increased 2% to GBP9.3 billion (31 January 2016: GBP9.1 billion) with a broadly stable revenue margin compared to the prior financial year.

Outlook

Building on our good performance in Q3, we are confident in delivering a satisfactory outcome for the full year.

[its the oxman] 08/3/2016 09:03

Results look reasonable. As expected winterflood profit is down but div is up. Profits being taken perhaps after recent run.

[ygor706] 22/1/2016 09:06

Nothing particularly surprising in the trading update. Banking book looks well diversified (at least for the time being) and the investment businesses flat. The banking will probably keep things ticking over this year as long as interest rates don't start to rise. Worth holding in my view for the good yield and modest PE.

[its the oxman] 26/11/2015 00:02

Guess the general downward movement in banking stock ratings is hitting Cbg unless someone can suggest another reason.