City of London IG maintains dividend as half-year profit rises

(Alliance News) - City of London Investment Group PLC reported increased earnings and funds under management for its first half.

The London-based firm, whose products invest primarily in closed-end funds, said underlying pretax profit increased 6.8% to USD16.2 million for the six months ended December 31, from USD15.2 million the previous year.

Statutory pretax profit increased 11% to USD14.0 million from USD12.6 million. Net fee income increased 5.6% to USD37.3 million from USD35.3 million.

Basic earnings per share increased 14% to 21.6 US cents from 19.0 cents, while diluted EPS grew 14% to 21.4 cents from 18.7 cents.

Funds under management averaged USD11.2 billion as of December 31, up by approximately 13% from USD9.9 billion one year prior and from USD10.8 billion on July 1.

CLIG declared an interim dividend of 11 pence per share for the half year, unchanged from the previous year.

"It has been a busy and productive period for CLIG," Chair Rian Dartnell commented. "The six months ending 31st December 2025 saw continued improvements for your company: funds under management grew, performance for our clients was strong, and your team implemented new processes to improve productivity and generate savings.

"Our efforts over the past year to instil greater empowerment of our teams, a broader leadership structure and a sharper focus on efficiency are producing tangible results."

Looking ahead, Dartnell noted "heightened news flow and volatility throughout the past year," but that "inflation has substantially subsided allowing for lower interest rates and a pick-up in economic growth rates".

"With the US dollar exhibiting weakness, investors have been rewarded for venturing out of the S&P 500 and the Magnificent Seven that had been stealing the show in recent years," Dartnell continued. "With international and emerging markets making up 57% of CLIG's FuM, this has been very welcome...We continue to note a rising level of interest in the markets in which we invest."

Shares in CLIG were 4.7% higher at 402.00 pence on Tuesday in London.

By Emma Curzon, Alliance News reporter

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