Adjusted operating profit rose 18% to £14.5m.

The asset management division of Close Brothers also saw a 14% growth in income.

The wealth management firm and fund manager acquired Chartered Financial Planning partnership PWN Financial Management LLP for an undisclosed sum in July.

The Surrey-based firm specializes in high-net-worth client families and brough £300m in assets to CBAM in the deal.

Overall statutory operating profit for the Close Brothers group increased 1% to £128.9m, with adjusted operating profit also up 1% to £129.8m.

Close Brothers’ securities trading arm Winterflood saw reduced trading opportunities following the exceptional highs experienced during the peak of the Coronavirus pandemic, with operating profit of £8.8m (H1 2021: £34.2m).

Adrian Sainsbury, group CEO, said: “We are pleased to declare an interim dividend of 22.0p, returning to the pre-pandemic level and reflecting the group's strong underlying performance and continued confidence in our business model.

“Looking ahead, we are mindful of the highly uncertain external environment, including the impact of increasing geopolitical tensions and rising inflation on our customers and wider financial market conditions. Nevertheless, we remain well placed to continue delivering on our long track record of profitability and disciplined growth.”

Earlier this month Close Brothers Asset Management appointed a new CEO following the departure of Martin Andrew who worked with the wealth and asset management firm for 16 years.

Former Standard Life Savings MD Eddy Reynolds joined the firm earlier this month.