RCS - Arbuthnot Banking - Hardman Research: History is repeating itself <Origin Href="QuoteRef">ARBB.L</Origin>

Arbuthnot BankingAnnouncement

28/03/2017 13:30

RNS Number : 7711A
Arbuthnot Banking Group PLC
28 March 2017
Hardman Research: History is repeating itself
History is repeating itself - Arbuthnot's strategy, and largely the same management team, have delivered total shareholder returns of 418% 2008-2017 and 930% 1997-2017 respectively. 2016 saw a new phase in the execution of the strategy with the further partial sale of Secure Trust shares releasing capital to be deployed in other businesses. The initial stages of this deployment began (property acquisition, loan book purchase, accelerated team hires, asset finance deal, plus a 325p special dividend) but the full deployment of capital will take some years. 2016 results were a little ahead of our estimates but 2017 accelerated investment leaves forecasts largely unchanged.
Please click here for the full report:
http://hardmanandco.com/docs/default-source/company-docs/arbuthnot-banking-group-plc-documents/28.03.17-history-is-repeating-itself.pdf
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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.
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