8th Mar 2016 07:57
LONDON (Alliance News) - Close Brothers Group PLC, the banking, securities and asset management group, on Tuesday lifted its interim dividend, reported an increase in first-half profit, and said it expects a "satisfactory performance" for its current financial year as a whole.
Pretax profit rose to GBP108.7 million in the six months ended January 31, Close Brothers said in a statement, up from GBP106.2 million the corresponding half the prior year. The company lifted its interim dividend to 19.0 pence from 18.0p.
"We are pleased to report a solid first half result for the group, with further growth in our earnings and dividend against a backdrop of more challenging market conditions. With our strong capital position, prudent funding and long track record we remain well positioned to continue to invest in our business and deliver sustainable growth and strong returns," Chief Executive Preben Prebensen said in a statement.
Adjusted operating profit, which strips out amortisation of intangible assets on acquisitions, rose to GBP111.2 million from GBP108.6 million.
Banking adjusted operating profit rose to GBP108.4 million from GBP106.4 million and asset management adjusted operating profit rose to GBP8.4 million from GBP5.1 million, more than offsetting a fall in securities adjusted operating profit to GBP6.8 million from GBP10.3 million.
By Samuel Agini; [email protected]; @samuelagini
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