Close Brothers Asset Management (CBAM) reported a 43 percent decrease in operating profits in the six months to 31 January 2023.
Operating profits fell from £13.7 million at the end of H1 2022 to £7.8 million. The firm attributed this to stable costs being offset by a reduction in income.
As a result, its operating margin fell from 19 percent to 12 percent year-on-year.
Total operating income declined by 7.0 percent from £76.6 million to £71 million, whi...
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