Close Brothers Group plc Half year results for the six months to 31 January 2014
Strong first half result
Strong group performance with adjusted operating profit up 21% to £97.2 million and adjusted basic earnings per share up 19% to 50.4p
Continued growth in the Banking division with adjusted operating profit 14% higher, reflecting 5% loan book growth year to date to £4.9 billion and an improved bad debt ratio of 1.0%
In the Securities division, Winterflood's adjusted operating profit increased 81% to £13.4 million reflecting stronger trading relative to the first half of 2013
Adjusted operating profit in Asset Management increased to £3.2 million and Assets under Management ("AuM") were up 2% to £9.3 billion
Interim dividend per share increased 10% to 16.5p
Strong common equity tier 1 capital ratio of 13.2% under CRD IV while return on opening equity improved to 18%
