Close Brothers Group Full Year 2023 Earnings: EPS Beats Expectations
Close Brothers Group (LON:CBG) Full Year 2023 Results
Key Financial Results
Revenue: UK£806.3m (down 11% from FY 2022).
Net income: UK£81.1m (down 51% from FY 2022).
Profit margin: 10% (down from 18% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: UK£0.54 (down from UK£1.10 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Close Brothers Group EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.2%.
The primary driver behind last 12 months revenue was the Banking - Commercial segment contributing a total revenue of UK£313.6m (39% of total revenue). The largest operating expense was General & Administrative costs, amounting to UK£692.8m (96% of total expenses). Explore how CBG's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Banks industry in the United Kingdom.
Performance of the British Banks industry.
The company's shares are up 3.0% from a week ago.
Risk Analysis
It is worth noting though that we have found 2 warning signs for Close Brothers Group that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
