Business
FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2019
FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2019.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \nRNS Number : 3601M City of London Investment Group PLC 16 September 2019 \n\n16th September 2019\n \nCITY OF LONDON INVESTMENT GROUP PLC (LSE:CLIG)\n(\"City of London\" or \"the Group\")\n \nFINAL RESULTS FOR THE YEAR TO 30TH JUNE 2019\n \n \nSUMMARY\n \n\n\n\n\n-\n\n\nFunds under management (FuM) at 30th June 2019 were US$5.4 billion (2018: US$5.1 billion), an increase of 6%. In sterling terms, FuM increased by 10% to £4.3 billion (2018: £3.9 billion).\n \n\n\n\n\n-\n\n\nRevenues, representing the Group's management charges on FuM, were £31.9 million (2018: £33.9 million). Profit before tax was £11.4 million (2018: £12.8 million).\n \n\n\n\n\n-\n\n\nBasic earnings per share were 34.9p (2018: 39.5p) after a tax charge of 21% (2018: 21%) of pre-tax profits.\n \n\n\n\n\n-\n\n\nA final dividend of 18p per share is recommended, payable on 29th October 2019 to shareholders on the register on 11th October 2019, making a total for the year of 40.5p (2018: 27p), including the special dividend of 13.5p paid on 22nd March 2019.\n\n\n\n\n \nFor a copy of the full report or further information, please visit the shareholders page of our website http://www.citlon.co.uk or contact:\n \nTom Griffith (CEO)\nCity of London Investment Group PLC\nTel: 001 610 380 0435\n \nMartin R Green\nZeus Capital Limited\nFinancial Adviser & Broker\nTel: +44 (0)20 3829 5000 \n \n \nCHAIRMAN'S STATEMENT\n \nTo coin a phrase more commonly used in the sporting world, the year to June 2019 was very much a \"game of two halves\". \n \nDeepening US/China trade friction in the fourth quarter of 2018 severely impacted equity markets with the S&P 500 plummeting by 20% in the 13 week period to Christmas Eve, while the MSCI Emerging Market Index (MXEF) fell by a more modest 10% over the same period. As trade-related superpower brinkmanship subsided somewhat in the early part of 2019, markets regained their composure with both emerging and developed markets re-tracing back towards their high points for the year, with the MXEF recording a gain of 1.2% for the year as a whole. Notwithstanding the more benign market conditions of recent months, it is clear that equity markets remain highly susceptible to geopolitical influences, be it growing protectionism or ongoing tensions in the ...