Financial Highlights1
for the year ended 31 July 2020
- 1 Financial highlights with the exception of profit attributable to shareholders presented on the basis of continuing operations, which exclude the unsecured retail point of sale finance business classified as a discontinued operation for the 2018 and 2019 financial years. See page 37 of the Annual Report 2020 for more details on the basis of presentation.
- 2 Adjusted operating profit is stated before amortisation of intangible assets on acquisition of £3.1 million (2019: £5.8 million) and profit from discontinued operations of £nil (2019: £0.8 million).
- 3 Excludes amortisation of intangible assets on acquisition, discontinued operations and the tax effect of such adjustment.
- 4 Return on opening equity calculated as adjusted operating profit after tax and non-controlling interests on opening equity less non-controlling interests.
- 5 Represents the final dividend proposed for the respective years together with the interim dividend declared and paid in those years.
Our Businesses
Close Brothers is a leading UK merchant banking group providing lending, wealth management services and securities trading. We operate principally in the UK and employ over 3,500 people.
Banking
Asset Management
Securities
- Expertise
- Integrity
- Prudence
- Teamwork
- Service
- Relationships
Purpose and Culture
Close Brothers' purpose is to help the people and businesses of Britain thrive over the long term.
This means supporting our colleagues, customers and clients, and the communities and environment in which they operate, for the benefit of all our stakeholders. It means helping people and businesses unlock their potential and plan for the future with confidence, building relationships that stand the test of time. And it means that we continue to be there for the long term, whatever the climate, making decisions that are right for today and for generations to come.
Our culture combines expertise, service and relationships with teamwork, integrity and prudence.
Adhering to these attributes ensures that we continue to provide excellent service for our customers and clients over the long term and supports the strong reputation we have built with our stakeholders.
Chairman’s Statement
Michael N.Biggs
During the 2020 financial year, we witnessed one of the most difficult economic, market and business environments in our lifetimes with a profound human impact.
Our disciplined business model, strong culture and customer focused approach have served us well in this environment. We entered the Covid-19 crisis in a strong position and are navigating it well, as the group has shown immense adaptability and deployed contingency plans very effectively and quickly.
Chairman's Statement (PDF)Chief Executive’s Statement
Preben Prebensen, Chief Executive 2009 to 2020
When I became chief executive in 2009, we were in the middle of a global financial crisis.
As I hand over to Adrian Sainsbury, we are managing through the Covid-19 crisis. In many ways, this crisis is different - not least in its human and societal impact.
Adrian Sainsbury, Chief Executive
I am delighted to be introducing Close Brothers’ 2020 annual results; my first as chief executive.
It is an honour to be chosen to lead the group as I truly believe this is an extraordinary company that plays an important role in the lives of people and businesses it serves.
Chief Executive’s Statement (PDF)Our Response to Covid-19
Our purpose is to help the people and businesses of Britain thrive over the long term, and in the face of Covid-19, we have focused on maximising our support for our colleagues, customers and partners.
Our Response to Covid-19 (PDF)Business Model
Close Brothers has an established reputation as a responsible bank with a distinctive, prudent business model and a long-term approach.
We focus on providing straightforward products and services in sectors we know and understand, and delivering quality and reliability for our clients.
Business Model (PDF)Strategy
Our long-term strategic approach focuses on ways to protect, improve and extend our model, which in turn allows us to deliver excellent stakeholder outcomes in a wide range of market conditions.
Protect
Improve
Extend
Downloads
Strategic Report
- Financial Highlights(62KB)
- Our Businesses(170KB)
- Our Purpose(50KB)
- Our Culture(42KB)
- Chairman’s Statement(121KB)
- Chief Executive’s Statement(181KB)
- Our Response to Covid-19(79KB)
- Business Model(99KB)
- Strategy and Key Performance Indicators(200KB)
- Our Responsibility and Our Stakeholders(321KB)
- Sustainability Report(590KB)
- Financial Overview(252KB)
- Banking(438KB)
- Asset Management(157KB)
- Securities(191KB)
- Risk Report(505KB)
Governance
Financial Statements
- Consolidated Income Statement(45KB)
- Consolidated Statement of Comprehensive Income(64KB)
- Consolidated Balance Sheet(46KB)
- Consolidated Statement of Changes in Equity(65KB)
- Consolidated Cash Flow Statement(44KB)
- Company Balance Sheet(67KB)
- Company Statement of Changes In Equity(42KB)
- The Notes(1.9MB)
Disclaimer
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