Close Brothers Group’s profits were down in its preliminary full year 2022 results, with its asset management arm contributing to this.

Group adjusted operating profit fell 13 percent on FY 2021, from £270.7 million to £234.8 million. Its operating profit before tax fell 12 percent from £265.2 million to £232.8 million.

Among this, Close Brothers Asset Management’s adjusted operating profit before tax fell eight percent, from £23.7 million to £21.7 million.

However, ...