City of London Investment Group PLC Hardman Report: Exchange rate moves give big boost
14 September 2016 - 6:32PM
RNS Non-Regulatory
TIDMCLIG
City of London Investment Group PLC
14 September 2016
Hardman Research: Exchange rate moves give big boost
Exchange rate moves give big boost: The full year results from
City of London showed no surprises following the trading statement
in July. Weaker markets were the dominant feature, with lower funds
under management compared to FY2015 leading to a fall in revenues
and profits in FY2016. Revenues declined 4% over the previous
financial year to GBP24.4m and operational gearing led to a larger
11% fall in pre-tax profits to GBP8.0m. As usual, cash conversion
was excellent with net operating cashflow at 96% of profits.
Click here for the full report:
http://hardmanandco.com/docs/default-source/company-docs/city-of-london-investment-documents/clig-report-14-sept-2016.pdf
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