DJ Hardman & Co Research on City Of London Investment Group (CLIG): Solid results in volatile markets
Hardman & Co Research Hardman & Co Research on City Of London Investment Group (CLIG): Solid results in volatile markets 22-March-2023 / 14:30 GMT/BST The issuer is solely responsible for the content of this announcement.
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Hardman & Co Research on City of London Investment Group (CLIG):
Solid results in volatile markets
City of London has announced its interim results for 1H'23. The headline figures were in line with those from the January trading statement. As previously indicated, weak markets meant that results were down on the year before. Gross revenue of GBP28.7m was 9% down, from GBP31.4m in 1H'22. Underlying earnings after tax were GBP8.99m, a decline of 25% from the previous year (note that these no longer need to be adjusted for part-years of Karpus). Underlying EPS of 18.4p represented a decline by the same percentage from 1H'22. FUM saw net inflows from a range of areas, including the KIM Institutional strategy showing a return to growth.
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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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Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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End of Announcement - EQS News Service
1589591 22-March-2023
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(END) Dow Jones Newswires
March 22, 2023 10:30 ET (14:30 GMT)
