Hardman & Co Research on City of London Investment Group (CLIG)

First-half results going in the right direction

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 The issuer is solely responsible for the content of this announcement. 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.

Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/first-half-result ...

If you are interested in meeting the company, you can register your interest by clicking on the above link.

To contact us: Hardman & Co 9 Bonhill Street London EC2A 4DJ www.hardmanandco.com Follow us on Twitter @HardmanandCo

Contact: Brian Moretta

[e-mail]

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

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.

---

Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

---

End of Announcement - EQS News Service

1852865  06-March-2024