City of London Investment Group

CLIG · Main Market · Financial Services · mcap £257m · 522.0p

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Financials · LTM to 30 Jun 26

Source: results 15 Sep 26 ↗

Revenue: £57.0m
Operating profit: £22.5m
Net income: £18.2m
Free cash flow: £21.7m
Net cash: £31.7m
Market cap: £265m
EV / EBIT: 10.3×
FCF yield: +8.2%
Price / book: 2.2×

Latest half-year · H1 Dec 25 vs H1 Dec 24 results 24 Feb 26 ↗

Revenue: £27.8m
Operating profit: £9.6m
Net income: £7.9m
Cash from operations: £9.1m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest annual Latest interim

Final Results and Dividend Declaration, published 15 Sep 26 · read the announcement ↗

CONSOLIDATED INCOME STATEMENT · FOR THE YEAR ENDED 30 JUNE 2026

	Year to 30 June 2026 $’000	Year to 30 June 2025 $’000
Revenue Gross fee income	80,084	73,044
Commissions payable	(2,085)	(1,978)
Custody fees payable	(1,467)	(1,296)
Net fee income	76,532	69,770
Administrative expenses Employee costs	31,062	30,423
Other administrative expenses	8,721	8,659
Depreciation and amortisation	6,539	6,560
	(46,322)	(45,642)
Operating profit	30,210	24,128
Finance income	1,333	1,490
Finance expense	(356)	(395)
Gain on investments	1,260	766
Profit before taxation	32,447	25,989
Income tax expense	(8,066)	(6,307)
Profit for the period	24,381	19,682
Profit attributable to
Equity shareholders of the parent	24,381	19,682
Basic earnings per share (cents)	49.5	40.1
Diluted earnings per share (cents)	49.0	39.4

CONSOLIDATED AND COMPANY CASH FLOW STATEMENT · FOR THE YEAR ENDED 30 JUNE 2026 · Group Company

	30 June 2026 $’000	30 June 2025 $’000	30 June 2026 $’000	30 June 2025 $’000
Cash flow from operating activities
Profit before taxation	32,447	25,989	1,398	1,405
Adjustments for
Depreciation of property and equipment	255	285	84	89
Depreciation of right-of-use assets	662	658	227	226
Amortisation of intangible assets	5,622	5,617	23	18
Share-based payment charge	(54)	(17)	-	(4)
EIP-related charge	1,308	1,298	544	432
LTIP-related charge	92	-	-
Gain on investments	(1,260)	(766)	(22)	(12)
Interest receivable	(1,333)	(1,490)	(561)	(750)
Interest payable	(10)	8	(10)	8
Interest payable on leased assets	366	387	42	50
Translation adjustments	583	73	613	(164)
Cash generated from operations before changes
in working capital	38,678	32,042	2,338	1,298
(Increase)/decrease in trade and other receivables	(2,041)	(1,010)	88	(779)
Increase/(decrease) in trade and other payables	588	807	3,342	910
Cash generated from operations	37,225	31,839	5,768	1,429
Interest received	1,333	1,490	561	750
Interest payable	10	(8)	10	(8)
Interest paid on leased assets	(366)	(387)	(42)	(50)
Taxation paid	(8,158)	(7,781)	(3,939)	(3,555)
Net cash generated from/(used in) operating activities	30,044	25,153	2,358	(1,434)
Cash flow from investing activities
Dividends received from subsidiaries	–	–	23,000	20,800
Purchase of property and equipment and intangibles	(163)	(134)	(71)	(79)
Purchase of non-current financial assets	(5,065)	(2,789)	-	-
Proceeds from sale of current financial assets	5,075	2,791	10	-
Net cash generated from/(used in) investing activities	(153)	(132)	22,939	20,721
Cash flow from financing activities
Ordinary dividends paid	(21,275)	(20,918)	(21,275)	(20,918)
Purchase of own shares by employee share option trust	(937)	(2,110)	(937)	(2,110)
Proceeds from sale of own shares by employee
benefit trust	-	295	-	295
Payment of lease liabilities	(579)	(539)	(314)	(295)
Net cash used in financing activities	(22,791)	(23,272)	(22,526)	(23,028)
Net increase/(decrease) in cash and cash equivalents	7,100	1,749	2,771	(3,741)
Cash and cash equivalents at start of period	35,492	33,738	16,550	20,381
Effect of exchange rate changes	(589)	5	(367)	(90)
Cash and cash equivalents at end of period	42,003	35,492	18,954	16,550

Half Year Results and Dividend Declaration, published 24 Feb 26 · read the announcement ↗

CONSOLIDATED INCOME STATEMENT · FOR THE SIX MONTHS ENDED 31ST DECEMBER 2025

	Six months ended 31st Dec 2025 (unaudited) $'000	Six months ended 31st Dec 2024 (unaudited) $'000	Year ended 30th June 2025 (audited) $'000
Revenue
Gross fee income	39,072	36,973	73,044
Commissions payable	(1,034)	(978)	(1,978)
Custody fees payable	(755)	(699)	(1,296)
Net fee income	37,283	35,296	69,770
Administrative expenses
Employee costs	16,605	15,408	30,423
Other administrative expenses	4,545	4,871	8,659
Depreciation and amortisation	3,266	3,275	6,560
	(24,416)	(23,554)	(45,642)
Operating profit	12,867	11,742	24,128
Finance income	689	815	1,490
Finance expense	(170)	(199)	(395)
Gain on investments	582	234	766
Profit before taxation	13,968	12,592	25,989
Income tax expense	(3,353)	(3,301)	(6,307)
Profit for the period	10,615	9,291	19,682
Profit attributable to
Equity shareholders of the parent	10,615	9,291	19,682
Basic earnings per share (cents)	21.6	19.0	40.1
Diluted earnings per share (cents)	21.4	18.7	39.4

CONSOLIDATED STATEMENT OF FINANCIAL POSITION · 31ST DECEMBER 2025

	31st Dec 2025 (unaudited) $'000	31st Dec 2024 (unaudited) $'000	30th June 2025 (audited) $'000
Non ‐ current assets Property and equipment	925	1,028	917
Right-of-use assets	4,089	4,747	4,418
Intangible assets	114,484	120,086	117,296
Other financial assets	7,043	5,949	6,506
Deferred tax asset	1,766	1,681	1,737
	128,307	133,491	130,874
Current assets Trade and other receivables	9,151	7,888	8,855
Current tax receivable	518	-	662
Cash and cash equivalents	32,846	30,198	35,492
	42,515	38,086	45,009
Current liabilities Trade and other payables	(8,044)	(7,239)	(10,308)
Lease liabilities	(568)	(483)	(585)
Current tax payable	-	(7)	-
Creditors, amounts falling due within one year	(8,612)	(7,729)	(10,893)
Net current assets	33,903	30,357	34,116
Total assets less current liabilities	162,210	163,848	164,990
Non ‐ current liabilities
Lease liabilities	(4,409)	(4,975)	(4,705)
Deferred tax liability	(7,187)	(8,451)	(7,821)
Net assets	150,614	150,422	152,464
Capital and reserves
Share capital	644	644	644
Share premium account	2,866	2,866	2,866
Merger relief reserve	128,984	128,984	128,984
Investment in own shares	(6,748)	(7,165)	(8,795)
Share option reserve	131	198	128
EIP share reserve	1,215	1,325	1,683
Foreign currency translation reserve	(1,011)	(1,011)	(1,011)
Capital redemption reserve	33	33	33
Retained earnings	24,500	24,548	27,932
Attributable to: Equity shareholders of the parent	150,614	150,422	152,464
Total equity	150,614	150,422	152,464

CONSOLIDATED CASH FLOW STATEMENT · FOR THE SIX MONTHS ENDED 31ST DECEMBER 2025

	Six months ended 31st Dec 2025 (unaudited) $'000	Six months ended 31st Dec 2024 (unaudited) $'000	Year ended 30th June 2025 (audited) $'000
Cash flow from operating activities Profit before taxation	13,968	12,592	25,989
Adjustments for
Depreciation of property and equipment	125	140	285
Depreciation of right-of-use assets	329	330	658
Amortisation of intangible assets	2,812	2,805	5,617
Share-based payment charge	(3)	9	(17)
EIP-related charge	815	741	1,298
Gain on investments	(582)	(234)	(766)
Interest receivable	(689)	(815)	(1,490)
Interest payable	(11)	6	8
Interest payable on lease liabilities	181	193	387
Translation adjustments	328	533	73
Cash generated from operations before changes in working capital	17,273	16,300	32,042
(Increase)/decrease in trade and other receivables	(892)	(7)	(1,010)
(Decrease)/increase in trade and other payables	(836)	(1,882)	807
Cash generated from operations	15,545	14,411	31,839
Interest received	689	815	1,490
Interest paid	11	(6)	(8)
Interest paid on leased assets	(181)	(193)	(387)
Taxation paid	(3,865)	(3,694)	(7,781)
Net cash generated from operating activities	12,199	11,333	25,153
Cash flow from investing activities Purchase of property and equipment and intangibles	(134)	(79)	(134)
Purchase of non-current financial assets	(3,978)	(1,096)	(2,789)
Proceeds from sale of non-current financial assets	3,980	1,097	2,791
Net cash used in investing activities	(132)	(78)	(132)
Cash flow from financing activities Ordinary dividends paid	(14,047)	(13,866)	(20,918)
Purchase of own shares by employee benefit trust	-	(266)	(2,110)
Proceeds from sale of own shares by employee benefit trust	-	81	295
Payment of lease liabilities	(291)	(268)	(539)
Net cash used in financing activities	(14,338)	(14,319)	(23,272)
Net (decrease)/increase in cash and cash equivalents	(2,271)	(3,064)	1,749
Cash and cash equivalents at start of period	35,492	33,738	33,738
Effect of exchange rate changes	(375)	(476)	5
Cash and cash equivalents at end of period	32,846	30,198	35,492
NOTES
1 BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES
New or amended accounting standards and interpretations adopted
2 SEGMENTAL ANALYSIS
Six months to 31st Dec 2025 Gross fee income	478	-	39,072
Non-current assets
Property and equipment	-	18	925
Right-of-use assets	-	34	4,089
Intangible assets	-	-	114,484
Six months to 31st Dec 2024 Gross fee income	415	69	36,973
Non-current assets
Property and equipment	-	17	1,028
Right-of-use assets	-	92	4,747
Intangible assets	-	-	120,086
Year to 30th June 2025 Gross fee income	818	130	73,044
Non-current assets
Property and equipment	-	11	917
Right-of-use assets	-	63	4,418
Intangible assets	-	-	117,296
3 FINANCE INCOME
(unaudited) (unaudited) (audited)
$'000 $'000 $'000
Interest on cash and cash equivalents	689	815	1,490
4 FINANCE EXPENSE
(unaudited) (unaudited) (audited)
$'000 $'000 $'000
Interest payable on lease liabilities	181	193	387
Interest payable other	(11)	6	8
	170	199	395
5 GAIN ON INVESTMENTS
(unaudited) (unaudited) (audited)
$'000 $'000 $'000
Unrealised gain on investments	390	174	614
Realised gain on investments	192	60	152
	582	234	766

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: FY Jun 26 (twelve months to 30 Jun 26), published 15 Sep 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	FY Jun 26	FY Jun 25
Revenue to operating profit
Revenue	57.0	54.0
Operating profit	22.5	18.7
Depreciation (owned assets)	0.2	0.2
Depreciation (right-of-use)	0.5	0.5
Amortisation	4.2	4.3
Operating profit to net income
Fair value gains / losses	–	0.6
Finance costs	(0.3)	(0.3)
Profit before tax	24.2	20.1
Tax	(6.0)	(4.9)
Net income (owners)	18.2	15.2
Per share
EPS basic	27.8p	22.5p
EPS diluted	–	28.7p
Dividend per share	25.7p	24.1p

	H2 Jun 26	H1 Dec 25	H2 Jun 25	H1 Dec 24
Revenue to operating profit
Revenue	29.2	27.8	26.6	27.3
Operating profit	12.9	9.6	9.6	9.1
Depreciation (owned assets)	0.1	0.1	0.1	0.1
Depreciation (right-of-use)	0.2	0.2	0.3	0.3
Amortisation	2.1	2.1	2.2	2.2
Operating profit to net income
Fair value gains / losses	–	0.4	0.4	0.2
Finance costs	(0.1)	(0.1)	(0.2)	(0.2)
Profit before tax	13.7	10.4	10.3	9.8
Tax	(3.5)	(2.5)	(2.3)	(2.6)
Net income (owners)	10.2	7.9	8.0	7.2
Per share
EPS basic	11.8p	16.0p	7.4p	15.1p
EPS diluted	–	15.9p	13.8p	14.9p

	FY Jun 26	FY Jun 25
Operating activities
Cash from operations	22.4	19.5
Tax paid	(6.1)	(6.0)
Financing activities
Lease principal paid	(0.4)	(0.4)
Lease interest paid	(0.3)	(0.3)
Dividends paid	(15.9)	(16.2)
Share buybacks	(0.7)	(1.6)

	H2 Jun 26	H1 Dec 25	H2 Jun 25	H1 Dec 24
Operating activities
Cash from operations	13.3	9.1	10.7	8.8
Tax paid	(3.2)	(2.9)	(3.2)	(2.9)
Financing activities
Lease principal paid	(0.2)	(0.2)	(0.2)	(0.2)
Lease interest paid	(0.1)	(0.1)	(0.1)	(0.1)
Dividends paid	(5.4)	(10.5)	(5.4)	(10.7)
Share buybacks	–	–	(1.4)	(0.2)

	FY Jun 26	FY Jun 25
Non-current assets
Property, plant & equipment	0.6	0.7
Other investments	5.8	4.7
Current assets
Trade receivables	7.7	6.5
Cash	31.7	25.9
Current assets	39.5	32.8
Current liabilities
Trade payables	7.1	7.5
Lease liabilities, current	0.5	0.4
Current liabilities	8.2	7.9
Non-current liabilities
Lease liabilities, non-current	3.2	3.4
Equity
Total equity	118.1	111.1

	H2 Jun 26	H1 Dec 25	H2 Jun 25	H1 Dec 24
Non-current assets
Goodwill	–	66.9	–	–
Property, plant & equipment	0.6	0.7	0.7	0.8
Other investments	5.8	5.2	4.7	4.7
Current assets
Trade receivables	7.7	6.8	6.5	6.3
Cash	31.7	24.4	25.9	24.1
Current assets	39.5	31.6	32.8	30.3
Current liabilities
Trade payables	7.1	6.0	7.5	5.8
Lease liabilities, current	0.5	0.4	0.4	0.4
Current liabilities	8.2	6.4	7.9	6.2
Non-current liabilities
Lease liabilities, non-current	3.2	3.3	3.4	4.0
Equity
Total equity	118.1	111.8	111.1	119.9

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.