Business
Final Year Results
Final Year Results.
About this update from Hansard Global Plc
[{"type":"text","content":"\n RNS Number : 5765Z Hansard Global plc 24 September 2009 \n \n\n\nHansard Global plc\n('Hansard' or the 'Group')\n\nFull year results for the twelve months ended 30 June 2009\n\nHansard Global plc, the specialist long-term savings provider, today announces its results for the twelve months ended 30 June 2009. \n\nSUMMARY\nIFRS profit before tax of £20.8m (2008: £23.6m); \n \nEEV operating profit after tax of £11.3m (2008: £47.9m);\n \nIndustry-leading new business margins of 6.1% in difficult markets;\n \nEmbedded value at 30 June 2009 of £236.6m (2008 £243.1m);\n \nRecommended final dividend of 7.35p per share (2008: 7.0p);\n \nStrong balance sheet with increased cash balances. Shareholder cash of £75.9m at 30 June (2008: £69.5m);\n\n \nAssets under Administration down only 12% to £1.0bn (30 June 2008: £1.13bn) despite a fall of 28% in MSCI World Index over the year;\n\n \nContinued investment in distribution infrastructure and Hansard OnLine; \n \nGordon Marr appointed as Managing Director on 1 July 2009.\n\n\n Leonard Polonsky, Chief Executive of Hansard Global, commented:\n \n'Despite the adverse market conditions experienced during the financial year, the Hansard business model continues to be robust, and we have delivered a resilient performance. IFRS profits remain buoyant, but external factors have caused some reduction in Embedded Value and in Assets under Administration.\n \nThroughout the year the Group has continued to invest in the business and in its distribution infrastructure. We believe that this policy, together with the Group's strong balance sheet, positions us better to support the activity of financial intermediaries in our target markets and to achieve growth in volume and profitability when the environment improves.\n \nThe Group remains very strongly capitalised and has no borrowings. We have increased cash balances and, in recognition of this, the Board has recommended the payment of a final dividend of 7.35p per share, payable on 20 November 2009 to shareholders on the register on 2 October 2009. This represents a full-year dividend of 12.6p per share, an increase of 5% over the fu...