Hardman & Co Research: Arbuthnot Banking Gr...

Hardman & Co Research Hardman & Co Research: Arbuthnot Banking Group (ARBB): 3Q’22 trading statement – yet another upgrade 12-Oct-2022 / 12:40 GMT/BST Hardman & Co Research on Arbuthnot Banking Group (ARBB): 3Q’22 trading statement – yet another upgrade ABG’s 3Q’22 trading statement has led to a further upgrade to consensus, and we have also raised our estimates. The key takeaways were i) Bank of England base rate rises contribute to increased revenue, ii) good progress being made across all divisions, iii) deposit balances exceeding £3bn in the quarter, iv) completion of the sale of King Street property progressing, and v) full-year results expected to be ahead of market expectations. In September, the underlying monthly profit before tax was approaching £4m (excluding the one-off cost-of- living bonus payment made to all employees, which was signalled in the group’s interim results), which compared with our previous 2023E adjusted PBT of £24m. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/3q22-trading-statement-yet-another-upgrade/ If you are interested in meeting the company, you can register your interest by clicking on the above link. To contact us: Hardman & Co 1 Frederick’s Place London EC2R 8AE www.hardmanandco.com Follow us on Twitter @HardmanandCo Contact: Mark Thomas [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 25 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 UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case. 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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1462117 12-Oct-2022