StockMarketWire.com - City of London Investment Group's funds under management totalled US$4.2bn (£2.7bn) at 30 June (2014: US$3.9bn or £2.3bn), representing an 8% increase in US dollar terms and a 17% increase in sterling terms as a result of the cross rate moving from 1.71 to 1.57 over the period.

Over the same period the MSCI Emerging Markets Index (MXEF) fell by 5% in US dollar terms.

For the year to 30 June, City of London expects that pre-tax profits will be approximately £8.8m (2014: £7.2m, 13 months), and that profits after an anticipated tax charge of £2.3m (26% of pre-tax profits) will be approximately £6.5m (2014: profits of £5.2 million after a tax charge of £2.0m, representing 28% of pre-tax profit).

Basic and fully diluted earnings per share are expected to be 26.1p and 25.7p respectively (2014: 20.7p and 20.6p). The board is recommending a final dividend of 16p per share (2014: 16p). This would bring the total for the year to 30 June 2015 to 24p (2014: 24p), making cover 1.1 times earnings per share (2014: 0.86 times).


At 8:54am: [LON:CLIG] City of London Investment Group PLC share price was +0.38p at 339.5p



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