Business
Half Yearly Report
Half Yearly Report.
About this update from City Of London Investment Group Plc
[{"type":"text","content":"\n \nRNS Number : 9927O City of London Investment Group PLC 15 February 2016 \n\n15th February 2016\n \nCITY OF LONDON INVESTMENT GROUP PLC\n(\"City of London\", \"the Group\" or \"the Company\")\n \nHALF YEAR RESULTS TO 31ST DECEMBER 2015\n \nCity of London (LSE:CLIG) announces half year results for the six months to 31st December 2015. \n \nSUMMARY\n \n• Funds under Management (\"FuM\") of US$3.8 billion (£2.6 billion) at 31st December 2015. This compares with US$4.2 billion (£2.7 billion) at the beginning of this financial year on 1st July 2015 and US$4.0 billion (£2.6 billion) at 31st December 2014\n \n• FuM at 31st January 2016 of US$3.5 billion (£2.5 billion)\n \n• Revenues representing the Group's management charges on FuM, were £11.8 million (2014: £12.2 million)\nProfit before tax of £3.6 million (2014: £4.3 million)\n \n• Maintained interim dividend of 8p per share payable on 11th March 2016 to shareholders on the register on 26th February 2016\n \n• Cash and cash equivalents at the period end of £8.4 million (2014: £8.1 million)\n \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 \n \nFor further information, please visit www.citlon.co.uk or contact:\n \nBarry Olliff (CEO)\nCity of London Investment Group PLC\nTel: +1 215 313 3774\n \nRoger Lambert\nCanaccord Genuity Limited\nFinancial Adviser and Broker\nTel: +44 (0)20 7523 8000\n \n \n \nCHAIRMAN'S STATEMENT\n \nThe expression \"May you live in interesting times\" is often erroneously attributed to the Chinese. There can be little question, however, that the immediate trigger for the current \"interesting times\" is attributable to the Chinese but we should not forget that in giving the global economy a very extended diet of highly intoxicating free money, Western governments are surely to blame for the inevitable huge underlying debt fuelled problems that the global economy now faces. I know that some people hold that the best cure for a hangover is another drin...