Business
Half-year Results
Half-year Results.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \nRNS Number : 1911D City of London Investment Group PLC 17 February 2020 \n\n \n17th February 2020\n \nCITY OF LONDON INVESTMENT GROUP PLC\n(\"City of London\", \"the Group\" or \"the Company\")\n \nHALF YEAR RESULTS TO 31ST DECEMBER 2019\n \nCity of London (LSE:CLIG) announces half year results for the six months to 31st December 2019. \n \nHALF YEAR SUMMARY \n \n\n\n\n\n-\n\n\nFunds under Management (FuM) of US$6.0 billion (£4.5 billion) at 31st December 2019. This compares with US$5.4 billion (£4.3 billion) at the beginning of this financial year on 1st July 2019 and US$4.6 billion (£3.6 billion) at 31st December 2018\n \n\n\n\n\n-\n\n\nFuM at 31st January 2020 of US$5.8 billion (£4.4 billion)\n \n\n\n\n\n-\n\n\nRevenues representing the Group's management fees on FuM were £17.3 million (31st December 2018: £15.6 million)\n \n\n\n\n\n-\n\n\nProfit before tax of £6.3 million (31st December 2018: £5.2 million)\n \n\n\n\n\n-\n\n\nIncreased interim dividend to 10p per share (31st December 2018: 9p) payable on 20th March 2020 to shareholders on the register on 6th March 2020\n \n\n\n\n\nFor access to the full interim report, please follow the link below:\n \nhttp://www.rns-pdf.londonstockexchange.com/rns/1911D_1-2020-2-17.pdf\n \nThis release includes forward-looking statements, which may differ from actual results. Any forward-looking statements are based on certain factors and assumptions, which may prove incorrect, and are subject to risks, uncertainties and assumptions relating to future events, the Group's operations, results of operations, growth strategy and liquidity.\n \nFor further information, please visit www.citlon.co.uk or contact:\n \nTom Griffith, CEO\nCity of London Investment Group PLC\nTel: 001-610-380-0435\n \nMartin Green\nZeus Capital Limited\nFinancial Adviser & Broker\nTel: +44 (0)20 3829 5000\n \n \nCHAIRMAN'S STATEMENT\n \n31st December 2019 was a watershed moment in the history of your Company as our founder, Barry Olliff, retired from his executive role on his 75th birthday. In a career that spanned more than 50 years and witnessed massive changes in the structure and operation of equity markets globally, Barry has been a pioneer in the specialist area of closed-end funds (CEFs). Having identifie...