City of London has announced its interim results for 1H’20. Several of the key figures were announced in the January trading statement, so the main interest is in the underlying figures. With FUM growth supported by positive markets and net inflows, revenue growth was good at 11% compared with the same period last year. Despite the helpful conditions, City of London maintained its excellent cost control and the net result was a 23% increase in profit after tax to $5.06m. Cash conversion
21 Feb 2020
Interim results validate good first half performance
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Interim results validate good first half performance
City of London Investment Group PLC (CLIG:LON) | 338 33.8 3.1% | Mkt Cap: 171.0m
- Published:
21 Feb 2020 -
Author:
Brian Moretta -
Pages:
8
City of London has announced its interim results for 1H’20. Several of the key figures were announced in the January trading statement, so the main interest is in the underlying figures. With FUM growth supported by positive markets and net inflows, revenue growth was good at 11% compared with the same period last year. Despite the helpful conditions, City of London maintained its excellent cost control and the net result was a 23% increase in profit after tax to $5.06m. Cash conversion