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The share price of Close Brothers Group plc (LON: CBG) has fallen sharply today after the release of its half-year results. The banking and asset management group reported a pre-tax profit of £123 million for the six months to September 30th, down from £144 million in the same period last year. Adjusted operating profit also fell, from £176 million to £166 million.
The company attributed the drop in profitability to lower income from its investment management business and higher impairment charges on loans made to small businesses.
It is with great sadness that we announce the death of our beloved CEO, John Close. John was a true visionary and leader in the financial services industry, and his passing is a great loss to our company and everyone who knew him. Our thoughts and prayers are with his family during this difficult time.
Close Brothers Dividend
If you’re an investor looking for income, you may be interested in Close Brothers Group plc (LON: CBG). The UK-based banking and asset management group has a long history dating back to 1878, and today it’s a FTSE 250 company with a market capitalisation of £2.4 billion.
Income investors will be pleased to know that Close Brothers pays out a dividend, which it has done every year since 2004.
The current yield is 3.5%.
The dividend is covered 1.8 times by earnings per share, so there is some room for manoeuvre if profits come under pressure. However, with net interest margin (a key measure of profitability) at 2%, there isn’t much room for error.
Credit: www.investmentweek.co.uk
The Close Brothers share price is significant because it represents the company’s overall value. When the share price goes up, it means that the company’s value has increased, and when the share price goes down, it means that the company’s value has decreased. The share price is also a good indicator of how well the company is doing financially.
If the share price is high, it means that investors are confident in the company and believe that it will continue to do well.
Close Brothers is a British merchant banking group. It was founded in 1878 and its headquarters are in London. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The Close Brothers share price has performed well over time, increasing steadily since the company was founded in 1878. In recent years, the share price has grown significantly, reaching an all-time high of over £17 per share in 2018. Despite some volatility in 2019, the Close Brothers share price remains strong, hovering around the £16 mark at present.
This demonstrates the enduring strength of the company, even in challenging economic conditions.
The Close Brothers share price is influenced by a number of factors, including the company’s financial performance, the wider economic climate and political factors.
Close Brothers is a leading UK merchant bank, providing lending, deposit taking, wealth management and investment banking services to businesses and individuals. The company has been in operation for over 160 years and has a strong track record of delivering consistent returns for shareholders.
The Close Brothers share price is therefore highly dependent on the company’s financial performance. In recent years, Close Brothers has performed well, with strong growth in both profits and revenues. This has helped to support the share price at around £12-£13 per share.
However, the wider economic environment also plays a role in determining the Close Brothers share price. For example, if interest rates rise or there is increased uncertainty in financial markets then this could lead to a fall in the share price. Political factors can also influence the share price, with Brexit being a key uncertainty at present.
Conclusion
Close Brothers Group plc is a British merchant banking and financial services company. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The Company was founded in 1878 by Henry, Valantine and Maurice Close as Close Brothers & Co., financing the trading activities of small businesses.
In 1971, it acquired N M Rothschild & Sons Limited’s investment banking business which made it the largest stockbroker in the United Kingdom
Close Brothers today focuses on three main areas: asset management, retail finance and property services. It has offices in the United Kingdom, Europe and North America with over 3,000 employees.
