ARGO Argo Group Limited

TIDMARGO

RNS Number : 3335O

ARGO Group Limited

29 January 2019

29 January 2019

Argo Group Limited ("AGL" or "the Company")

Pre-closed period update

Argo Group Limited, the independent alternative investment manager offering a multi-strategy platform for investing in global emerging markets, announces the following update to shareholders ahead of its full year results which will be published in early March.

The management fees in the year ended 31 December 2018 will be broadly flat year-on-year. However, the significant performance fees which equalled US$5.9 million in the year ended 31 December 2017 will not be repeated amid difficult trading conditions in emerging markets. As a consequence, in spite of tight cost control, AGL will record an operating loss for the year ended 31 December 2018.

The Board does not intend to declare a final dividend. However, the Board is considering a return of capital to shareholders via a buyback of shares, as to which further announcements will be made in due course.

Enquiries:

Argo Group Limited

Andreas Rialas

020 7016 7660

Panmure Gordon

Dominic Morley

020 7886 2500

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTCKFDDCBKDQDB

(END) Dow Jones Newswires

January 29, 2019 02:00 ET (07:00 GMT)

Argo (LSE:ARGO)
Historical Stock Chart
From Mar 2024 to Apr 2024

Argo (LSE:ARGO)
Historical Stock Chart
From Apr 2023 to Apr 2024