City of London Investment Group (CLIG): Strengt...

Hardman & Co Research Hardman & Co Research: City of London Investment Group (CLIG): Strengthening cash position to boost returns 20-Sep-2018 / 13:45 GMT/BST Hardman & Co: Strengthening cash position to boost returns City of London has released its annual results for 2018. As headline figures were given in the July trading statement, there are no big surprises in these results. FUM grew 9.5% in US Dollar terms over the year to $5.1bn. With Sterling strengthening relative to the US Dollar and lower fee margins, revenue growth was a little behind this at 8.4%. Total expenses grew at 8.2%, giving a net 8.9% growth in operating profit to £12.5m. EPS growth was 7.0%, lower than the 10% increase in earnings due to fewer shares being held by employee benefits schemes. Please click here for the full report: http://hardmanandco.com/docs/default-source/company-docs/city-of-london-investment-documents/20.09.18-strengthening-cash-position-to-boost-returns.pdf To contact us: Hardman & Co 35 New Broad Street London EC2M 1NH www.hardmanandco.com Follow us on Twitter @HardmanandCo Contacts: Brian Moretta [phone] [e-mail]     Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the world with high-quality research, investor engagement programmes and advisory services. Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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