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City of London Investment Group (CLIG) Confirmation of an excellent first half

Hardman & Co Research
23 February 2022 / 15:35 GMT/BST

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City of London Investment Group (CLIG) Confirmation of an excellent first half

The City of London has announced its half-year results for 1H’22. After announcing a 13.5p special dividend in its January trading statement, the main interest was in the details. The breakdown of net inflows into gross inflows and outflows showed that 2Q was a marked improvement over 1Q. The City of London believes that once pandemic-related restrictions are eased, a return to in-person meetings will improve its ability to market its products. On the financial side, we note that the conversion into cash of profits remains excellent, at 87% of operating profit, which underpins its strong capacity to pay dividends.

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