City of London Investment Group Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

City of London Investment Group (LON:CLIG) Full Year 2023 Results

Key Financial Results

• Revenue: UK£68.7m (up 12% from FY 2022).
• Net income: UK£17.5m (down 3.3% from FY 2022).
• Profit margin: 26% (down from 30% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: UK£0.38.

All figures shown in the chart above are for the trailing 12 month (TTM) period

City of London Investment Group Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 2.6%.

Looking ahead, revenue is forecast to decline by 9.1% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in the United Kingdom are expected to remain flat.

Performance of the British Capital Markets industry.

The company's shares are up 3.9% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for City of London Investment Group (1 doesn't sit too well with us!) that we have uncovered.

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