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Midwich Group Reports Record Revenue Despite Market Challen…

Close Brothers Group PLC (LSE:CBG) has released its financial results for the six months ending 31 January 2025, demonstrating strategic progress in capital preservation and operational efficiency despite challenging market conditions.

In March 2024, the company initiated a series of management actions designed to enhance its available Common Equity Tier 1 (CET1) capital by approximately £400 million by the end of the 2025 financial year. By the reporting date, Close Brothers had successfully preserved or generated around £360 million in CET1 capital, aligning with its capital trajectory.

A key milestone in this strategy was the completion of the sale of Close Brothers Asset Management (CBAM) on 28 February 2025. The transaction resulted in an estimated £59 million profit on disposal and increased the group’s CET1 ratio by approximately 120 basis points, from 12.2% to 13.4%. The divestment has allowed Close Brothers to streamline operations and sharpen its focus on its lending business.

Additionally, the group has made significant progress in cost management initiatives, with an additional £5 million in projected annualised savings, increasing the total expected savings for the financial year to £25 million, up from the previously estimated £20 million.

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