Business
Results for the six months to 30 June 2016
Results for the six months to 30 June 2016.
About this update from Arbuthnot Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 5231E Arbuthnot Banking Group PLC 19 July 2016 \n\n \n \n \n \n \n \n \n19 July 2016\n \nARBUTHNOT BANKING GROUP (\"Arbuthnot\", \"the Group\" or \"ABG\")\nResults for the six months to 30 June 2016\n\"Period of Transition\"\n \nArbuthnot Banking Group announces a half yearly profit of £225m.\n \nArbuthnot Banking Group PLC is the holding company for Arbuthnot Latham & Co., Limited and its associated company Secure Trust Bank PLC.\n \nFINANCIAL HIGHLIGHTS \n \n· Profit for the period £225m (H1 2015: £12.7m)\n· Underlying profit before tax £2.0m (H1 2015: £1.4m)\n· Reported loss before tax on continuing ops £2.4m (H1 2015: £0.4m)\n· Earnings per share £11.11 (H1 2015: £0.44)\n· Interim dividend per share 13p (H1 2015: 12p)\n· Special dividend 25p to be paid on 27 July 2016 *\n· Net assets £282m (H1 2015: £179m)\n· Net assets per share £18.52 (H1 2015: £11.74)\n· Net assets increased almost six fold since December 2011 (£3.12 per share)\n \nOPERATIONAL HIGHLIGHTS\n \n· Completed sale of Everyday Loans - gain on sale £117m\n· Placed 33% stake in Secure Trust Bank generating a gain of £100m\n· Purchased a £50m investment property in the West End\n· Customer loans £657m (H1 2015: £584m)\n· Customer deposits £940m (H1 2015: £770m)\n· Assets Under Management £797m (H1 2015: £701m)\n \nCommenting on the results, Sir Henry Angest, Chairman and Chief Executive of Arbuthnot, said:\n \n\"The Group has completed two significant transactions this year, which have substantially increased its financial resources. We are well positioned to accelerate the growth of Arbuthnot Latham and also to invest in other opportunities that may arise given the current volatile economic environment.\"\n \nThe interim results and presentation are available at http://www.arbuthnotgroup.com. \n \nSecure Tr...