COLG - Second Half Interim Management Statement
(Thomson Reuters ONE) -
LSE: CIN
18 February 2010
City Of London Group Plc
Second Half Interim Management Statement
* Investment portfolio sees solid growth
* NAV per share at 31st January 2010 is 79.7p (70.9p at 31st July 2009).
* New Management Team fully operational and legal completion of first
Strategic Acquisition announced.
* Therium Acquisition has strong pipeline of prospective cases to fund.
* Fundamental Tracker Investment Management (FTIM) grows dividend in Munro
Fund by 2% despite difficult markets.
* FX Capital Associate now has Institutional and Personal Internet based
Foreign Exchange platforms ready for roll out
Since our First Half Interim Management Statement in August 2009 the group has
increased its asset values further as leading International Stock markets have
continued to recover from the lows experienced following the credit crisis. In
particular our portfolio of Mining, Natural Resources and Energy Stocks have
increased by 51.8% since 31 March 2009. This compares well with respective
indices. It is our intention to investigate migration of this portfolio into a
separate fund to attract outside investors and work has started calculating its
performance historically.
Our investments in quoted bank preference shares and bonds have provided good
returns to fund our administration costs.
The new management team yesterday completed its first strategic investment,
acquiring a 50% interest in Therium Capital Management Company Limited (TCML)
for £300,000. TCML is an asset management advisory firm operating in the
exciting new growth area of legal funding specializing in UK litigation and
international arbitration cases.
This transaction represents a significant step in our strategy to provide
funding to professional service firms.
Our early stage investments in Fundamental Tracker Investment Company and FX
Capital are showing good progress and the task of promoting and marketing their
capabilities now begins.
Whilst the Board remains cautious about recent growth in World Stock markets it
believes the complementary investments that have now been made in Financial
Services trading businesses will provide good long term profit potential for the
group. Preliminary Results for the year to 31 March 2010 are expected to be
announced in June 2010.
For Further information:
Henry Lafferty Chairman 07860 788 551
Eric Anstee Chief Executive 07836 666 339
[HUG#1385703]
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 18.02.2010 - 02:04 Uhr
Sprache: Deutsch
News-ID 1010548
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
LONDON,
Phone:
Kategorie:
Business News
Anmerkungen:
Diese Pressemitteilung wurde bisher 222 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"COLG - Second Half Interim Management Statement
"
steht unter der journalistisch-redaktionellen Verantwortung von
City of London Group PLC (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
