City of London has published its interim report for 1H2017. With the headline figures having been announced in last month’s trading statement, the report contains few surprises. As previously indicated, the movements in the dollar/sterling exchange rate have greatly increased most lines in the P&L. Gross revenue of £15.4m is 31% ahead of the 1H2016 figure. With more revenue earned in dollars than expenses, earnings have seen a bigger increase, by 64% to £4.27m.
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