Business
Interim Results
Interim Results.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n RNS Number : 1643A Arbuthnot Banking Group PLC 30 July 2008 \n \n \nARBUTHNOT BANKING GROUP PLC \n\nResults for the six months to 30 June 2008 \n\nArbuthnot Banking Group PLC ('Arbuthnot') today announces interim results for the six months to 30 June 2008. Arbuthnot is the holding company for Arbuthnot Securities Limited, Arbuthnot Latham & Co., Limited and Secure Trust Bank PLC.\n\nFinancial Highlights\n\n\n\n\n\n\n\n\nSix months to 30/6/2008\n\n\nSix months to 30/6/2007\n\n\n\n\nOperating income\n\n\n£23.5m\n\n\n£34.8m\n\n\n\n\nProfit before income tax\n\n\n£0.7m\n\n\n£5.4m\n\n\n\n\nBasic earnings per share\n\n\n6.3p\n\n\n18.0p\n\n\n\n\nNet assets\n\n\n£39.2m\n\n\n£42.0m\n\n\n\n\n\n\nCommenting on the results, Henry Angest, Chairman and Chief Executive of Arbuthnot, said:\n\n'Arbuthnot Banking Group had a satisfactory first half of 2008 given the very challenging economic environment. Capital ratios and liquidity remained strong. The composition of the profit streams of the Group has changed markedly compared to last year with Arbuthnot Securities lower and Secure Trust Bank higher, thus proving again the value of our diversified strategy.'\n\n_________________________________________________________________________________\nPress enquiries:\n\n\n\n\n\nArbuthnot Banking Group PLC: \n\n\nTel: 020 7012 2400\n\n\n\n\nHenry Angest, Chairman and Chief Executive\n\n\n\n\n\n\n\nAndrew Salmon, Chief Operating Officer\n\n\n\n\n\n\n\nPaul Sheriff, Group Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMaitland:\n\n\nTel: 020 7379 5151\n\n\n\n\nLydia Pretzlik\n\n\n\n\n\n\n\nRichard Farnsworth\n\n\n\n\n\n\n\n Operational Highlights\n\nRetail Banking - Secure Trust Bank\n\n\n\nSale of insurance broker business generated a profit of £1.6m\n\n\nProfit, excluding the sale of the insurance broking business, increased by 29% to £3.1m (2007: £2.4m)\n\n\nProfit before tax increased by 96% to £4.7m in first six months (2007: £2.4m)\n\n\n\nInvestment Banking - Arbuthnot Securities\n\n\n\nCommission and fee income of £7.0m...