Business
Pre-Close Period Update
Pre-Close Period Update.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n Arbuthnot Banking Group PLC\n18 January 2006\n\n\nARBUTHNOT BANKING GROUP PLC\n\n\nPre-Close Period Update\n\n\nArbuthnot Banking Group PLC ('the Group') is today issuing a trading update\nahead of the close period relating to the year ended 31 December 2005.\n\n\nBuilding on the turnaround indicated at the time of the publication of the\nGroup's interim results in September 2005, the performance of the Group's\ninvestment banking subsidiary, Arbuthnot Securities, has been particularly\nencouraging during the final months of 2005. At the same time, the retail\nbanking division, Secure Trust Bank, has continued to face a challenging\nconsumer lending market.\n\n\nTaking these factors into account, and particularly the positive results in\nArbuthnot Securities, the Board now expects on balance that the Group's profit\non continuing activities before tax and exceptional gains for the year ended 31\nDecember 2005 will exceed brokers' current forecasts.\n\n\nHowever, the higher than expected proportionate contribution from Arbuthnot\nSecurities to the overall result also means that there will now be a minority\ninterest relating to the proportion of the share capital of Arbuthnot Securities\nheld by that company's employees via a Long Term Incentive Plan. Allowing for\nthis, the Board expects earnings per share on continuing activities before\nexceptional gains to be broadly in line with market expectations.\n\n\n\n 18 January 2006\n\nEnquiries\n\nArbuthnot Banking Group PLC:\n\nHenry Angest, Chairman and Chief Executive Tel: 020 7012 2400\nStephen Lockley, Group Finance Director Tel: 020 7012 2055\nAndrew Salmon, Chief Operating Officer Tel: 020 7012 2424\n\nCollege Hill:\n\nTony Friend Tel: 020 7457 2020\nRichard Pearson Tel: 020 7457 2020\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2313,"tagName":"div"}]