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Close Brothers reveals further Novitas pain
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/806f7636-e0ba-4921-83bd-3da8b039570b/lxrcbsv-vVHXeu0YNbk-unsplash-scaled.jpg?t=1680119363)
Close Brothers Group PLC has reported a 90% drop in adjusted operating profit to £12.6mln during the first six months ending January 2023, after setting aside more than £114.6mln for bad loans relating to Novitas.