Arbuthnot Regulatory News (ARBB)

3 Jul 2007 09:33

Arbuthnot Banking Group PLC03 July 2007 ARBUTHNOT BANKING GROUP PLC PRE-CLOSE PERIOD TRADING UPDATE Arbuthnot Banking Group PLC ("the Group") is today issuing a trading updateahead of the close period relating to the six months ended 30 June 2007. The Group's trading has been strong in the first half of 2007 and pre taxprofits are expected to be approximately £5.5 million, representing an increaseof approximately 45% compared to the comparable period in 2006. These resultsreflect a strong performance in Arbuthnot Securities and high levels of propertytransaction fees in Arbuthnot Latham. Arbuthnot Securities has achieved an increase in pre tax profits ofapproximately 80%, to £4.0 million compared to the corresponding period in 2006.There has been strong growth across the business and the corporate financepipeline is encouraging. First half pre tax profits for Arbuthnot Latham are expected to be £1.4 million(2006: £0.1 million), with £2.4 million for Secure Trust Bank (2006: £3.5million). Overall, the Board is pleased with performance in the first six months andremains optimistic for the year as a whole, though recognising that the secondhalf result is always dependent on the continuation of the benign economicenvironment, and will be affected by our investment plans in Secure Trust Bankand the Swiss Bank. Enquiries: Arbuthnot Banking Group PLC Henry Angest, Chairman and Chief Executive Tel: 020 7012 2400Andrew Salmon, Chief Operating OfficerPaul Sheriff, Group Finance Director Maitland Emma Burdett Tel: 020 7379 5151Lydia PretzlikRichard Farnsworth Notes to Editors Arbuthnot Banking Group Arbuthnot Banking Group PLC is an independent, diversified financial servicesgroup providing banking and financial products and services to individual andcorporate clients through its three divisions. Arbuthnot Latham offers a highquality personal banking and wealth management service; Arbuthnot Securitiesprovides a full range of institutional stockbroking and corporate financeadvisory services focused on UK small- and mid-cap companies; and Secure TrustBank provides household cash management, personal loans, banking and insuranceservices. Arbuthnot Banking Group PLC has approximately 600 staff and is headquartered inthe City of London with operations throughout the United Kingdom. Its shares arequoted on the Alternative Investment Market of the London Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange