CLIG City Of London Investment Group

Hardman & Co publication on City of London Investment Group (CLIG): Good fund performance and solid results

Hardman & Co Research
Hardman & Co publication on City of London Investment Group (CLIG): Good fund performance and solid results

02-Oct-2024 / 07:45 GMT/BST
The issuer is solely responsible for the content of this announcement.

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

Good fund performance and solid results

 

City of London has announced its full-year results for 2024. As stated in the trading statement, FUM was $10.24bn, a 9% increase over the year. While market performance offset net outflows, there was a significant improvement in the latter in the second half, which bodes well going forward. Underlying profit before tax of $27.2m was a 0.5% increase over 2023’s $27.0m. A higher effective tax rate meant that underlying EPS declined 3% from 43.4¢ to 42.2¢. As previously announced, the final dividend was unchanged, at 22p, making 33p for the year as whole. Cash balances increased, to $33.7m, from $25.9m as of 31 December 2023.

 

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02/10/2024

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