Business
Scheduled Trading Update
Scheduled Trading Update.
About this update from Close Brothers Group Plc
[{"type":"text","content":"\n\n \n \nPress Release \n\n\n\nScheduled Trading Update\n\n\n\n\n\n\n\n21 July 2023\n\n\n\n\n\n\nEmbargoed for release until 7.00 am on 21 July 2023.\nClose Brothers Group plc (\"the group\" or \"Close Brothers\") today issues its scheduled pre-close trading update ahead of its 2023 financial year end. Close Brothers will release its results for the full year ended 31 July 2023 on 26 September 2023.\nAll statements in this release relate to the 11 months to 30 June 2023 unless otherwise indicated.\n\nAdrian Sainsbury, Chief Executive Officer, said:\n\"We have performed well in the second half of the financial year, maintaining the loan book growth momentum, strong net interest margin and stable credit performance in Banking reported at Q3. Close Brothers Asset Management continued to attract client assets and delivered a strong net inflow rate, although Winterflood's performance remains impacted by subdued trading activity.\nWe are seeing good demand in our Banking business and are making the most of the opportunities, notwithstanding the uncertain external environment. We continue to support our customers and clients, maintaining our consistent approach to lending throughout the cycle. Our financial strength and proven business model leave us well placed and I am pleased with our progress towards resuming the group's track record of earnings growth and returns since the first half.\"\nDivisional performance\nIn Banking, the loan book increased 3.7% year-to-...