18th Jan 2006 10:35
Arbuthnot Banking Group PLC18 January 2006 ARBUTHNOT BANKING GROUP PLC Pre-Close Period Update Arbuthnot Banking Group PLC ("the Group") is today issuing a trading updateahead of the close period relating to the year ended 31 December 2005. Building on the turnaround indicated at the time of the publication of theGroup's interim results in September 2005, the performance of the Group'sinvestment banking subsidiary, Arbuthnot Securities, has been particularlyencouraging during the final months of 2005. At the same time, the retailbanking division, Secure Trust Bank, has continued to face a challengingconsumer lending market. Taking these factors into account, and particularly the positive results inArbuthnot Securities, the Board now expects on balance that the Group's profiton continuing activities before tax and exceptional gains for the year ended 31December 2005 will exceed brokers' current forecasts. However, the higher than expected proportionate contribution from ArbuthnotSecurities to the overall result also means that there will now be a minorityinterest relating to the proportion of the share capital of Arbuthnot Securitiesheld by that company's employees via a Long Term Incentive Plan. Allowing forthis, the Board expects earnings per share on continuing activities beforeexceptional gains to be broadly in line with market expectations. 18 January 2006 Enquiries Arbuthnot Banking Group PLC: Henry Angest, Chairman and Chief Executive Tel: 020 7012 2400Stephen Lockley, Group Finance Director Tel: 020 7012 2055Andrew Salmon, Chief Operating Officer Tel: 020 7012 2424 College Hill: Tony Friend Tel: 020 7457 2020Richard Pearson Tel: 020 7457 2020 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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