Business
FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2023
FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2023.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n\n18th September 2023\n \nCITY OF LONDON INVESTMENT GROUP PLC (LSE: CLIG)\n(\"City of London\", \"the Group\" or \"the Company\")\n \nFINAL RESULTS FOR THE YEAR TO 30TH JUNE 2023\n \nThe Company announces that it has today made available on its website, https://www.clig.com/, the following documents:\n \n- Annual Report and Financial Statements for the year ended 30th June 2023 (the 2023 Annual Report); and\n- Notice of 2023 Annual General Meeting (the Notice of AGM).\n \nThe above documents will be uploaded to the National Storage Mechanism for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism in due course, in accordance with Listing Rule 9.6.1 R.\n \nThe 2023 Annual Report and the Notice of AGM, which will be held on 23rd October 2023, will be posted to shareholders on 22nd September 2023.\n \nThe Appendix to this announcement contains additional information which has been extracted from the 2023 Annual Report for the purposes of compliance with DTR 6.3.5 only and should be read in conjunction with this announcement. Together, these constitute the material required by DTR 6.3.5 to be communicated to the media in unedited full text through a Regulatory Information Service. This announcement should be read in conjunction with, and is not a substitute for reading, the full 2023 Annual Report.\n \nSUMMARY\n \n\n\n\n\n-\n\n\nFunds under Management (FuM) of US$9.4 billion (£7.4 billion) at 30th June 2023. This compares with US$9.2 billion (£7.6 billion) at the beginning of this financial year on 1st July 2022\n \n\n\n\n\n-\n\n\nNet fee income was £54.6 million (2022: £58.2 million)\n \n\n\n\n\n-\n\n\nUnderlying profit before tax* was £22.7 million (2022: £27.9 million). Profit before tax was £18.6 million (2022: £23.2 million)\n \n\n\n\n\n-\n\n\nUnderlying basic earnings per share* were 36.5p (2022: 44.2p). Basic earnings per share were 30.2p (2022: 36.9p) after an effective tax charge of 21% (2022: 22%) of profit before taxation\n \n\n\n\n\n-\n\n\nRecommended final dividend of 22p per share (2022: 22p) payable on 27th October 2023 to shareholders on the register on 29th September 2023, making a total for the year of 33p (2022: 46.5p, including a special dividend of 13.5p).\n\n\n\n\n\n\n\n\n\n\n\n\n*This is an Alternative Performance Measure (APM)...