Hardman & Co Research
Hardman & Co Research on City of London Investment Group (CLIG): First-half results going in the right direction

06-March-2024 / 10:50 GMT/BST
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Hardman & Co Research on City of London Investment Group (CLIG):

First-half results going in the right direction

 

City of London has announced its interim results for 1H’24. With the main headline figures having being announced in January’s trading statement, the principal interest was in some of the details. FUM of $9.58bn is 2% ahead of the level at 30 June 2023 and 5% ahead of the end of 2022. Gross revenues increased YoY by 2%, whereas, expenses grew 6%, resulting in a slightly lower operating profit of $10.0m. On an underlying basis, profit before tax of $13.3m was a 2% decline over the 1H’23 figure. Underlying EPS showed a similar decline, to 20.4¢, or 16.2p. The interim dividend, as previously announced, is unchanged at 11p.

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About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.



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End of Announcement - EQS News Service

1852865  06-March-2024 

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