Close Brothers has reported an adjusted operating profit of £200.6m in the year ending 31 July 2014, an increase of 20% compared to £167.2m a year earlier.
The group’s assets under management (AuM) rose 7% to £9.7bn up from £9.1bn in the first half of their last financial year.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The firm’s asset management unit recorded an adjusted operating profit of £9.9m compared to £4.0m in the same period last year.
The group said the adjusted operating income increased 8% to £84.4m up from £78.1m a year ago, while its income on Assets under Management (AuM) rose 10% to £83.8m from £76.3m in the same period last year.
The group’s total advised AuM grew 2% to £5.2bn from £5.1bn on 31 July 2013 due to positive market movements.
In addition, its total managed AuM increased 12% to £6.9bn as of as 31 July 2013 from £6.2bn in the same period last year due to strong inflows from third party IFAs and our bespoke portfolio managers, supported by modest market movements.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe group said the banking division continued to perform strongly with a year-to-date loan book growth of 14% to £5.3bn as at 31 July 2014.
In securities, Winterflood posted a 57% increase in adjusted operating profit to £26.6m as retail investors’ risk appetite improved.
