HARDMAN & CO RESEARCH Hardman & Co Research: City of London Investment Group (CLIG) - Performance pays dividends
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Hardman & Co Research
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 £54.6m. 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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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.
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1740451 03-Oct-2023