Arbuthnot Banking - Hardman Research: Value added strategy in results
RNS Number : 3047M
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 £879m, deposits +31% to £1,229m and assets undermanagement +26% to £1,001m). ABG has surplus liquidity and capital (c£90m) 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:

Hardman & Co

35 New Broad Street

London

EC2M 1NH

Analyst:

Mark Thomas  mt@hardmanandco.com

Telephone: +44 20 7194 7622

Follow us on Twitter @HardmanandCo

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
 
END
 
 
NRABGGDRDXDBGRR ]]>