City of London Investment Group Plc (CLIG.L), a public investment manager, on Monday announced that it is expecting profit before tax for the first half to be slightly high.
In its trading update, the company said its half-yearly unaudited profit before tax is anticipated to be around $13.9 million, slightly higher than the $13.8 million reported for the same period last year.
Sequentially, Funds under management increased to $9.6 billion from $9.4 billion in the second half of the previous year.
Net outflows were around $294 million, on EM redemptions at CLIM and required minimum distributions for KIM clients at year-end.
Additionally, the company declared an interim dividend of 11 pence per share payable on March 28 to shareholders on record March 1.
City Of London is scheduled to publish its half-year results on February 23.
Currently, City of London shares are trading at 338.89 pence, up 5.90% in London.
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