21st Dec 2021 14:41
City of London Group PLC - investment trust benchmarked against FTSE All-Share Index - Reports a widened pretax loss of GBP6.2 million for the six months to September 30, from a GBP4.0 million loss a year before. Says interest income amounted to GBP860,000, down 39% from GBP1.0 million a year ago. Says results reflect the costs incurred by Recognise Bank Ltd to develop the business. Notes that the loss is still in line with the company's business plan. Confident that Recognise Bank will be able to capitalise on an economic recovery in the UK once a full UK banking licence is granted. Says funds from the most recent fundraise will support future balance sheet growth.
Current stock price: 50.00, flat on Tuesday afternoon
Year-to-date change: down 41%
By Abby Amoakuh; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
CIN.L