Arbuthnot Banking Group PLC
03 July 2007
ARBUTHNOT BANKING GROUP PLC
PRE-CLOSE PERIOD TRADING UPDATE
Arbuthnot Banking Group PLC ('the Group') is today issuing a trading update
ahead of the close period relating to the six months ended 30 June 2007.
The Group's trading has been strong in the first half of 2007 and pre tax
profits are expected to be approximately £5.5 million, representing an increase
of approximately 45% compared to the comparable period in 2006. These results
reflect a strong performance in Arbuthnot Securities and high levels of property
transaction fees in Arbuthnot Latham.
Arbuthnot Securities has achieved an increase in pre tax profits of
approximately 80%, to £4.0 million compared to the corresponding period in 2006.
There has been strong growth across the business and the corporate finance
pipeline is encouraging.
First half pre tax profits for Arbuthnot Latham are expected to be £1.4 million
(2006: £0.1 million), with £2.4 million for Secure Trust Bank (2006: £3.5
million).
Overall, the Board is pleased with performance in the first six months and
remains optimistic for the year as a whole, though recognising that the second
half result is always dependent on the continuation of the benign economic
environment, and will be affected by our investment plans in Secure Trust Bank
and the Swiss Bank.
Enquiries:
Arbuthnot Banking Group PLC
Henry Angest, Chairman and Chief Executive Tel: 020 7012 2400
Andrew Salmon, Chief Operating Officer
Paul Sheriff, Group Finance Director
Maitland
Emma Burdett Tel: 020 7379 5151
Lydia Pretzlik
Richard Farnsworth
Notes to Editors
Arbuthnot Banking Group
Arbuthnot Banking Group PLC is an independent, diversified financial services
group providing banking and financial products and services to individual and
corporate clients through its three divisions. Arbuthnot Latham offers a high
quality personal banking and wealth management service; Arbuthnot Securities
provides a full range of institutional stockbroking and corporate finance
advisory services focused on UK small- and mid-cap companies; and Secure Trust
Bank provides household cash management, personal loans, banking and insurance
services.
Arbuthnot Banking Group PLC has approximately 600 staff and is headquartered in
the City of London with operations throughout the United Kingdom. Its shares are
quoted on the Alternative Investment Market of the London Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
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