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EQS-News News vom 26.07.2018

Hardman & Co Research: Arbuthnot Banking Group (ARBB): 1H'18 results: continuing the good work

Hardman & Co Research

26-Jul-2018 / 13:50 GMT/BST


Hardman & Co: 1H'18 results: continuing the good work

ABG is delivering the strong profit and franchise growth that had been promised, with underlying profits rising from £3.2m in 1H'17 to £4.2m in 1H'18. We now forecast 2019 adjusted pre-tax profits of £15m (statutory £13m) against £7.6m in 2017 (statutory £7m). Loans and deposits were both up 25% on 1H'17, driving a 25% increase in income. Costs rose 24%, with heavy investment in new business lines, in addition to volume-related cost growth. Impairments fell. The group is well funded (loans £1.1bn vs. deposits £1.5bn), strongly capitalised (Tier 1 ratio over 15%) and clearly attractive to new teams bringing incremental skills.

Please click here for the full report:

http://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/26.07.18-1h18-results-continuing-the-good-work.pdf

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Mark Thomas

+44 20 7194 7622


mt@hardmanandco.com
 
 

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