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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Arbuthnot Banking Group Plc | LSE:ARBB | London | Ordinary Share | GB0007922338 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,027.50 | 995.00 | 1,060.00 | 0.00 | 08:00:22 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Commercial Banks, Nec | 181.44M | 35.38M | 2.1678 | 4.74 | 167.69M |
TIDMARBB
Arbuthnot Banking Group PLC
27 July 2017
Hardman Research: Value added strategy in results
H117 results delivering the value added strategy: H117 saw Arbuthnot delivering on its promises with strong franchise, revenue and underlying profit growth. H217/2018 promises more of the same with the full benefit of franchise growth seen over the past twelve months (loans +34% to GBP879m, deposits +31% to GBP1,229m and assets undermanagement +26% to GBP1,001m). ABG has surplus liquidity and capital (cGBP90m) giving it flexibility to exploit opportunities in uncertain economic times. Management risk appetite remains conservative. From a small base, it can grow strongly and with good credit quality. The shares trade at 0.9x NAV despite the long track record of adding value - with this history, we would expect them to trade at a premium to NAV.
Please click here for the full report:
http://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/27.07.17-strong-profitable-growth-not-shown-in-share-price.pdf
To contact us: Analyst: Hardman & Co Mark Thomas mt@hardmanandco.com 35 New Broad Street Telephone: +44 20 7194 7622 London Follow us on Twitter @HardmanandCo EC2M 1NH
www.hardmanandco.com
About Hardman & Co: For the past 20 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.
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July 27, 2017 06:35 ET (10:35 GMT)
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