DJ Hardman & Co Research: City of London Investment Group (CLIG) - Performance pays dividends
Hardman & Co Research
Hardman & Co Research: City of London Investment Group (CLIG) - Performance pays dividends
03-Oct-2023 / 15:40 GMT/BST
The issuer is solely responsible for the content of this announcement.
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Hardman & Co Research | Financial Services
City of London Investment Group (CLIG) | Performance pays dividends
City of London has announced its final results for FY'23. The headline figures were in line with those announced in the
July trading statement. Weaker markets weighed on profitability, offset by outperformance across the majority of
assets. A stronger US dollar also generally supported fee income. The lower average FUM led to a 6% reduction in net
fee income to GBP54.6m. Costs were adversely affected by exchange rates and some adjustments for staff changes. This led
to underlying EPS declining from 44.2p to 36.5p, a 17% reduction. The final dividend, as previously indicated, is 22p,
bringing the full-year figure to 33p.
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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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1740451 03-Oct-2023
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(END) Dow Jones Newswires
October 03, 2023 10:40 ET (14:40 GMT)
