Yahoo Finance 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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