StocksMedium•1 October 2026•
1 min read
Close Brothers Shares Jump 13% on Earnings Beat and Cost Savings
Key Facts
1Close Brothers Group reported adjusted pre-tax profit of £120 million, surpassing expectations of £111 million.
2London-listed shares rose 13% after achieving £36 million in annualized cost savings, exceeding the £25 million target.
3The group paid no fiscal 2026 dividend due to uncertainty regarding the UK motor finance redress scheme.
Close Brothers Group reported adjusted pre-tax profit of £120 million for fiscal 2026, surpassing analyst expectations of £111 million. Financial Modeling Prep reported that the company's London-listed shares rose 13% after the group achieved £36 million in annualized cost savings, exceeding its initial £25 million target.
The profit beat occurred despite a 17% decline in adjusted operating profit, as results were impacted by an additional £164.7 million provision for UK motor finance commissions. The group paid no fiscal 2026 dividend due to ongoing regulatory uncertainty regarding the redress scheme, while maintaining a £9.5 billion loan book serving 1.6 million customers as of October 1, 2026.