Business
FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2024
FINAL RESULTS FOR THE YEAR TO 30TH JUNE 2024.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n\n24th September 2024\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 2024, DIVIDEND DECLARATION AND BOARD CHANGE\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 2024 (the 2024 Annual Report); and\n- Notice of 2024 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 2024 Annual Report and the Notice of AGM, which will be held on 28th October 2024, will be posted to shareholders on 30th September 2024.\n \nThe Appendix to this announcement contains additional information which has been extracted from the 2024 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 2024 Annual Report.\n \nSUMMARY\n \n\n\n\n\n-\n\n\nFunds under Management (FuM) of US$10.2 billion at 30th June 2024. This compares with US$9.4 billion at the beginning of this financial year on 1st July 2023\n \n\n\n\n\n-\n\n\nNet fee income was $66.2 million (2023: $65.5 million)\n \n\n\n\n\n-\n\n\nUnderlying profit before tax* was $27.2 million (2023: $27.0 million). Profit before tax was $22.6 million (2023: $22.1 million)\n \n\n\n\n\n-\n\n\nUnderlying basic earnings per share* were 33.5p (2023: 36.5p). Basic earnings per share were 27.8p (2023: 30.2p) after an effective tax charge of 24% (2023: 21%) of profit before taxation\n \n\n\n\n\n-\n\n\nRecommended final dividend of 22p per share (2023: 22p) payable on 7th November 2024 to shareholders on the register on 4th October 2024, making a total for the year of 33p (2023: 33p)\n\n\n\n\n\n\n\n\n\n\n\n\n*This is an Alternative Performance Measure (APM). Please refer to the Financi...