City Of London Investment Share Discussion Threads

[waldron] 24/9/2022 20:54

Calendar
09/29 Ex-dividend day for final dividend

[masurenguy] 24/9/2022 16:58

Interesting times !

Li Qiaoming, the rumoured President of China

Rumours suggest that Li Qiaoming, the General serving for PLA and one of the members of the central committee of the Chinese Communist Party (CCP) has replaced Xi as the President. With unconfirmed news about the house arrest of Chinese President Xi Jinping doing rounds on the internet, speculations are rife that something very big is taking shape in Beijing.

Meanwhile, reports suggesting grounding of over 60% of international and domestic flights to and from Beijing on Friday, have fuelled the buzz that China’s capital Beijing is currently under the control of People’s Liberation Army (PLA). Though, no Chinese media or any officials have confirmed the reported coup, unconfirmed sources said President Xi Jinping has been removed as chief of People’s Liberation Army (PLA) and he has been put under house arrest.

[montyhedge] 23/9/2022 16:15

Yes they have $25m cash in bank, the lower the pound goes more profit.I think about the only share not to go down today, in the market bloodbath.

[robsy2] 23/9/2022 16:07

pretty much knowing that the 2023 8% standard divi is intact feels good.
h a n w
R

[montyhedge] 23/9/2022 15:55

Yes looked at currency exposure in accounts, when pound weakens profits increase. Let's hope parity with dollar, may get another special dividend, lol.

[robsy2] 23/9/2022 15:44

definitely positive

hxxps://www.clig.com/investor-reports/ZeusCapitalReport9_22.pdf

If you look on the investors page of the company web site you can see a the zeus report that shows the effect of weaker GBP.
Looks like at 1.10 with 9.2b AUM Profits after tax could be around 18m, so yes a positive that would offset expected loss of AUM , leaving FY23 at the same level as FY22 - so leaving dividend comfortably intact.

[montyhedge] 23/9/2022 14:49

One thing, the weak pound increases profits it seems to me, any thoughts on this?

[montyhedge] 22/9/2022 15:00

Still 22p dividend on its way, at least getting paid nicely, waiting for shareprice to go up.

[montyhedge] 20/9/2022 08:51

I thought very good figures in this climate, that's because very good management. Statement was positive.

[my retirement fund] 20/9/2022 08:25

dividend looks safe

[skinny] 20/9/2022 07:11

.




The Company announces that it has today made available on its website, , the following documents:


- Annual Report and Financial Statements for the year ended
30th June 2022 (the 2022 Annual Report); and
- Notice of 2022 Annual General Meeting (the Notice of AGM).

The above documents will be uploaded to the National Storage Mechanism for inspection at in due course, in accordance with Listing Rule 9.6.1 R.

The 2022 Annual Report and the Notice of AGM, which will be held on 31st October 2022, will be posted to shareholders on 23rd September 2022.

The Appendix to this announcement contains additional information which has been extracted from the 2022 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 2022 Annual Report.

SUMMARY


- Funds under Management (FuM) of US$9.2 billion (GBP7.6
billion) at 30th June 2022. This compares with US$11.4
billion (GBP8.3 billion) at the beginning of this financial
year on 1st July 2021
- Net fee income was GBP58.2 million (2021: GBP52.5 million)
- Underlying profit before tax* was GBP27.9 million (2021:
GBP26.7 million). Profit before tax was GBP23.2 million
(2021: GBP22.2 million)
- Underlying basic earnings per share* were 44.2p (2021:
48.1p). Basic earnings per share were 36.9p (2021: 39.4p)
after an effective tax charge of 22% (2021: 24%) of profit
before taxation
- Recommended final dividend of 22p per share (2021: 22p)
payable on 4th November 2022 to shareholders on the register
on 30th September 2022, making a total for the year of
46.5p (2021: 33p), including the special dividend of 13.5p
paid on 25th March 2022 (2021: nil)
*This is an Alternative Performance Measure (APM). Please
refer to the Financial Review for more details on APMs.

Tom Griffith said on the results and outlook:
"The past year was a successful one for your Company in the
face of the macroeconomic headwinds. This success resulted
from the combined strength of the merged entity. We enter
the new financial year focused on delivering continued growth
driven by strong investment performance and the high quality
of services supporting our institutional and high net worth
(HNW) clients.
CLIG remains well-positioned in the current market environment.
Our conservative management style will not change, nor will
our investment-led approach with a view to ensuring strong
investment performance for our clients. We will continue to
strengthen the operational and investment capabilities of
the Group by building out the distribution pipeline for institutional
investment and wealth management products. We will also continue
to be selective in identifying potential acquisitions, which
we believe will inevitably appear given the difficult market
conditions of the past year."

For access to the full report, please follow the link below:



This 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.

[brucie5] 12/9/2022 12:34

My Retirement Fund12 Sep '22 - 12:15 - 3051 of 3052
0 0 0
Looking good value or am missing something?
------------------------------------------
Missing something? Nope, I don't think you are. Just sit back and collect the dividends.
Your handle suggests this is just what you're looking for.
;)

[robsy2] 12/9/2022 12:29

It does look good value but then so much else does as well. I don't hold, but MNG also looks cheap and might be more of a takeover target as well.

[my retirement fund] 12/9/2022 12:15

Looking good value or am missing something?

[montyhedge] 08/9/2022 13:20

I wonder if anyone looking at City for a takeover, with sterling very weak, makes than cheap to a US buyer. Just a thought.

[dudishes] 01/9/2022 14:15

G'day,

Some individual purchased 9254 @ £4.3? bit of a titch up me thinks?

To buy, seems 5pips below buy quote, but to sell, you will get stung!

I did not add to original posn, hate rip orfs!

Maybe tighter spread and better prospects toward AGM.

You guys/girls that were in previous year, laughing all the way to the bank!

GL

[my retirement fund] 22/8/2022 00:21

I agree with your point though, the spread can be frustrating more often than not.

[melton john] 21/8/2022 20:02

Thanks for the correction MRF. Up yours Monty, no need for that.
Should have looked on LondonStockExchange first.

[montyhedge] 21/8/2022 16:40

You're posting rubbish of course they are on SETS.

[my retirement fund] 21/8/2022 16:20

That's not true it trades on SETS

[frazboy] 21/8/2022 12:45

The quoted spread is large but it's usually more like 5 to 10p if you actually do a dummy trade.

[mondex] 21/8/2022 12:21

Thoughts on why the spread between bid & offer is so (outrageously) high? 416-438p

[my retirement fund] 10/8/2022 15:55

Thanks all took a few