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City of London narrows losses in H1 on higher revenue
StockMarketWire.com
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City of London narrowed its first-half losses as revenue was bolstered by stronger growth in its Milton Homes business.
For the six months ended 30 September, pre-tax losses narrowed to £2.7 million from £3.4 million year-on-year as revenue increased to £5.4 million from £3.2 million.
Milton Homes, the company's equity release provider, saw revenue rise to £3.9 million from £1.4 million.
'(T)he Group is well-placed to achieve its strategic objective of Recognise being granted a full UK banking licence in the first half of 2021,' the company said.
At 9:22am: (LON:CIN) City of London Group PLC share price was 0p at 91.5p
Story provided by StockMarketWire.com
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