Arbuthnot Latham Signals Strong Performance

Stephen Harris

4 July 2007

Trading has been strong in the first half of 2007 and pre-tax profits are expected to be approximately £5.5 million, according to a trading update ahead of UK-based Arbuthnot Banking Group’s close period. The increase in profits is around 45 per cent compared to the comparable period last year, the company says. The results reflect a strong performance in Arbuthnot Securities and high levels of property transaction fees in Arbuthnot Latham, according to a statement. Arbuthnot Securities has achieved an increase in pre-tax profits of approximately 80 per cent, to £4.0 million compared to the corresponding period in 2006, whereas first half pre-tax profits for Arbuthnot Latham, the group’s private bank, are expected to be £1.4 million (2006: £0.1 million).