British merchant banking group Close Brothers Group Plc. (CBG.L) on Tuesday reported loss attributable to shareholders for the first six months, compared to profit last year. Results were negatively impacted by a 165 million pounds provision relating to motor finance commissions and other costs.
For the first six-month period, loss attributable to shareholders came in at 122.9 million pounds, in contrast to profit of 68.8 million pounds last year. On a per share basis, loss was 82.0 pence, compared to profit of 46.0 pence in the prior-year period.
The company posted operating loss before tax of 103.8 million pounds in the first six months, compared to profit of 87.0 million pounds in the year-ago period. On an adjusted basis, operating loss before tax was 103.0 million pounds, in contrast to operating profit before tax of 88.1 million pounds in the first six months of fiscal 2024.
The company's operating income for the period declined to 390.6 million pounds from 395.0 million pounds in the previous-year period.
For the first six months of fiscal 2025, Close Brothers recorded net interest income of 293.0 million pounds, higher than 291.7 million pounds in the same period last year. Non-interest income declined to 97.6 million pounds, from 103.3 million pounds a year ago.
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