Close Brothers posts strong Q3 results driven by growth in AUM

FTSE 250-listed specialist financial services group Close Brothers Group has unveiled strong results for the third quarter relating to the period from February 1st to April 30th, underpinned by growth in the loan book and assets under management.

By MoneyWeek

published 24 May 2013

in Features

The loan book increased 2.0% to £4.5bn, driven by growth in motor finance and the Commercial businesses. Close Brothers reported that growth remained "solid but slightly lower than last year" due to a moderation in demand in some of its markets.

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In the asset management division, assets under management increased 4.0% to £9.2bn. The group said this reflected positive market movements and positive net flows.

Going forwards, the group was said it remained well placed for the rest of the financial year.

Close Brothers' share price was up 0.83% to 1,099p at 08:09 on Friday.

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