We take this opportunity to adjust our forecasts to reflect new management guidance. Assuming new guidance and an exchange rate of £1=$1.25, we raise our FY17e adj PBT forecast by 2.8% to £11.5m. Our unchanged DPS forecast of 25.0p is covered 1.36x by our new FY(Jun)17ec adj EPS of 34.0p (up 2.8%). Lower assumed growth in FUM in FY18e and higher operating cost growth, means that we now reduce our FY18e adj EPS by 6.9% to 38.0p. Prospects of 12% growth in adj EPS should encourage t
17 Jan 2017
Pre-close shows 1H PBT up 61%
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Pre-close shows 1H PBT up 61%
City of London Investment Group PLC (CLIG:LON) | 315 0 0.0% | Mkt Cap: 159.6m
- Published:
17 Jan 2017 -
Author:
Robin Savage -
Pages:
8
We take this opportunity to adjust our forecasts to reflect new management guidance. Assuming new guidance and an exchange rate of £1=$1.25, we raise our FY17e adj PBT forecast by 2.8% to £11.5m. Our unchanged DPS forecast of 25.0p is covered 1.36x by our new FY(Jun)17ec adj EPS of 34.0p (up 2.8%). Lower assumed growth in FUM in FY18e and higher operating cost growth, means that we now reduce our FY18e adj EPS by 6.9% to 38.0p. Prospects of 12% growth in adj EPS should encourage t