Business
Arbuthnot Banking Group (ARBB): 1H'18 results: ...
Arbuthnot Banking Group (ARBB): 1H'18 results: ....
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \nHardman & Co ResearchHardman & Co Research: Arbuthnot Banking Group (ARBB): 1H'18 results: continuing the good work26-Jul-2018 / 13:50 GMT/BST\nHardman & Co: 1H'18 results: continuing the good work\n\nABG is delivering the strong profit and franchise growth that had been promised, with underlying profits rising from £3.2m in 1H'17 to £4.2m in 1H'18. We now forecast 2019 adjusted pre-tax profits of £15m (statutory £13m) against £7.6m in 2017 (statutory £7m). Loans and deposits were both up 25% on 1H'17, driving a 25% increase in income. Costs rose 24%, with heavy investment in new business lines, in addition to volume-related cost growth. Impairments fell. The group is well funded (loans £1.1bn vs. deposits £1.5bn), strongly capitalised (Tier 1 ratio over 15%) and clearly attractive to new teams bringing incremental skills.\n\nPlease click here for the full report:\n\nhttp://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/26.07.18-1h18-results-continuing-the-good-work.pdf \n\nTo contact us:Hardman & Co35 New Broad StreetLondonEC2M 1NHwww.hardmanandco.comFollow us on Twitter @HardmanandCo\n Contacts:Mark Thomas+44 20 7194 7622\n [email protected] \n \n \n\nHardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.\n\nAbout 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.\n\nHardman 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.\n\nOur 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 b...