Hardman & Co Research / GB00B104RS51

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.   Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/good-fund-performance-and-solid-results/ If you are interested in meeting the company, you can register your interest by clicking on the above link.

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