Close Brothers Group plc announced unaudited consolidated earnings results for the first half ended January 31, 2013. For the period, the company reported adjusted operating profit was £79.8 million against £63.2 million a year ago. Adjusted diluted earnings per share were 41.1 pence against 31.4 pence a year ago. This reflects a strong performance in Banking, modestly lower profitability in Securities and a small profit in Asset Management. Operating profit before tax, after exceptional items was £77.3 million against £66.8 million a year ago. Profit attributable to shareholders was £58.8 million against £50.5 million a year ago. Adjusted profit attributable to shareholders was £60.8 million against £46.3 million a year ago. Adjusted operating income was £283 million against 261.8 million a year ago. This was driven by good income growth in the Banking division and an increase in income on AuM in the Asset Management division, although Securities income reduced slightly in continued difficult market conditions. Net interest income was £146.9 million against £130.6 million a year ago. Operating profit before tax was £77.3 million against £66.8 million a year ago. Diluted earnings per share were 39.7 pence against 34.3 pence a year ago. Net cash inflow from operating activities was £255.7 million against net cash used in operating activities of £396.8 million a year ago. Purchase of property, plant and equipment was £2 million against £2.2 million a year ago. Purchase of intangible assets – software was £4.5 million against £5.3 million a year ago. The company expects good result for the year 2013 as a whole. The board of directors of the company has declared an interim dividend of 15.0 pence compared to 14.0 pence per share in 2012, an increase of 1.0 pence, or 7%, reflecting the strong profit growth in the period. This interim dividend, which is due to be paid on April 24, 2013 to the shareholders on the register at March 22, 2013.

Close Brothers Group plc, H1 2013 Earnings Call, Mar 12, 2013

Close Brothers Group plc announces that Elizabeth Lee, an executive director of the group and Group Head of Legal and Regulatory Affairs, has with immediate effect ceased to be company secretary to Close Brothers. The board announced the appointment of Emily Upton as company secretary to Close Brothers with immediate effect.