TIDMARBB

Arbuthnot Banking Group PLC

27 July 2017

Hardman Research: Value added strategy in results

H117 results delivering the value added strategy: H117 saw Arbuthnot delivering on its promises with strong franchise, revenue and underlying profit growth. H217/2018 promises more of the same with the full benefit of franchise growth seen over the past twelve months (loans +34% to GBP879m, deposits +31% to GBP1,229m and assets undermanagement +26% to GBP1,001m). ABG has surplus liquidity and capital (cGBP90m) giving it flexibility to exploit opportunities in uncertain economic times. Management risk appetite remains conservative. From a small base, it can grow strongly and with good credit quality. The shares trade at 0.9x NAV despite the long track record of adding value - with this history, we would expect them to trade at a premium to NAV.

Please click here for the full report:

http://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/27.07.17-strong-profitable-growth-not-shown-in-share-price.pdf

 
 To contact us:         Analyst: 
  Hardman & Co           Mark Thomas mt@hardmanandco.com 
  35 New Broad Street    Telephone: +44 20 7194 7622 
  London                 Follow us on Twitter @HardmanandCo 
  EC2M 1NH 
 

www.hardmanandco.com

About Hardman & Co: For the past 20 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.

Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer.

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRABGGDRDXDBGRR

(END) Dow Jones Newswires

July 27, 2017 06:35 ET (10:35 GMT)

Arbuthnot Banking (LSE:ARBB)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Arbuthnot Banking Charts.
Arbuthnot Banking (LSE:ARBB)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Arbuthnot Banking Charts.