UK's Arbuthnot Banking jumps on robust half-yearly profit

Arbuthnot Banking

18/07/2023 08:58

** Shares of British lender Arbuthnot Banking Group Plc
 ARBB.L  up 9.8% at 1040 pence, hitting over a year high
    ** H1 profit before tax jumps to 26.4 million pounds 
($34.56 million) from 3.4 million pounds a year ago
    ** Co reports H1 EPS of 129.4p vs 17.8p a year ago
    ** Stubbornness of inflation led to increased interest rate
rises, boosting the group's profitability, co says  
    ** Adds it remains well positioned given improved
profitability and robust finiancial strength, despite uncertain
outlook for the economy 
    ** ARBB up ~22% YTD
    
    
    

($1 = 0.7638 pounds)

 (Reporting by Richard Rohan Francis in Bengaluru)
 ((Richardrohan.francis@thomsonreuters.com))