Investment Column: Close Brothers keeps up growth
Tuesday 30 September 1997
Close Brothers claims that its broad breadth of businesses means that a downturn in any one of its sectors will not wreak havoc on profits. However some analysts reckon the group relies heavily on the market-makers Winterflood Securities and the ex-Hill Samuel corporate finance team it bought from Lloyds TSB last year.
Though both Winterflood and the corporate finance unit have had a great year, this may not be sustainable. The fortunes of Winterflood are inextricably tied to stock market activity. Last year there was plenty of activity in smaller stocks and Winterflood boomed, but trading is notoriously fickle. The jury is also out on the corporate finance team.
On current analysts' forecasts the shares, which edged up 2.5p yesterday to 482.5p, near their all-time high, are sitting on a prospective p/e ratio of around 15. Given the inherent risks associated with the stock, that looks high enough.
- 1 2015 General Election: Green party will not appear in TV debate alongside Ukip – says BBC
- 3 Of course, teenage girls need role models – but not like beauty vlogger Zoella
- 4 North Korean officials 'publicly executed for watching South Korean soap operas'
- 5 Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
Elizabeth Norment dead: House of Cards actress honoured by Kevin Spacey after she dies aged 61
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
North Korean officials 'publicly executed for watching South Korean soap operas'
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
Nigel Farage and Frankie Boyle clash over Andrew Lawrence's 'Mock the Week' criticism
iJobs Money & Business
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...
£45,000 - £65,000: Saxton Leigh: Our client is a well-known APAC Corporate and...
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...