Close Brothers confident for full-year

21st Nov 2013 07:52

- Positive start to the year- Loan book growth of three per cent- Confident in outlook for current financial yearFinancial services firm Close Brothers said it made a positive start to the year, with improved first quarter trading across its main divisions, and it remains confident in the outlook for the current financial year. The London-based group said in its Banking unit, the loan book grew 3% in the quarter to £4.8bn after good growth across all of the lending businesses.Its market making division Winterflood was bolstered by improved market conditions and increased retail investor trading activity. "Winterflood is well placed to benefit if current market conditions are sustained throughout the year," it said in a company statement.Assets under Management increased 3% to £9.3bn, reflecting positive market movements and net inflows during the quarter. Revenue margin was broadly stable on the prior financial year. The Asset Management division remains on track as it continued to progress towards its medium-term targets, it added."Overall, we remain confident in the outlook for the current financial year," Close Brother said.CJ