CLIG has announced final results to June 2015. Financial results were largely pre-announced at the trading update in mid-July and so the results serve to confirm FY15. The statement reiterates Barry Olliff’s (CEO) intention to retire in 2020 with a number of points on succession planning including reiteration of the CEO’s plan to sell shares and the appointment of two new directors. We will review our forecasts in light of a decline in FuM since the year end, as shown on the group website, and prevailing market conditions. We expect that the yield will remain the key focus on valuation – a sustained 24p payout would equate to a 7% yield at the current price.
