1H'24: City of London Investment Group (CLIG) reports $9.58bn FUM, 2% revenue growth, 6% expense increase, lower operating profit, and unchanged interim dividend.
City of London Investment Group (CLIG) reported 1H'24 interim results with FUM at $9.58bn, a 2% increase from 30 June 2023 and 5% higher than end-2022. Gross revenues rose 2% YoY, but expenses increased 6%, resulting in a lower operating profit of $10.0m. Underlying profit before tax declined 2% to $13.3m, and EPS dropped to 20.4c or 16.2p. The interim dividend remains unchanged at 11p. Full report available at hardmanandco.com.
March 06, 2024
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