Business
Full Year Results
Full Year Results.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \nRNS Number : 5533S Hansard Global plc 25 September 2014 \n \n\n25 September 2014\n \nHansard Global plc\nResults for the year ended 30 June 2014\n \nHansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider, issues its results for the year ended 30 June 2014 (\"FY 2014\"). \n \nSummary \n \n\n\n\n\n\n\n\nFY 2014\n\n\n FY 2013\n\n\n\n\nNew business sales* - PVNBP\n\n\n£83.0m\n\n\n£172.1m\n\n\n\n\nNew business margin after tax\nOperating cash surplus\nIFRS underlying profit after tax\n\n\n4.0%\n£37.8m\n£14.7m\n\n\n12.0%\n£41.4m\n£12.4m\n\n\n\n\nIFRS profit after tax\n\n\n£8.3m\n\n\n£10.4m\n\n\n\n\nEEV operating (loss) / profit after tax\n\n\n(£6.6m)\n\n\n£11.7m\n\n\n\n\nRecommended final dividend per share**\n\n\n5.00p\n\n\n4.75p\n\n\n\n\nIFRS earnings per share\n\n\n6.0p\n\n\n7.6p\n\n\n\n\n \n \n\n\n\n\nAs at\n\n\n30 June\n\n\n30 June\n\n\n\n\n\n\n\n2014\n\n\n2013\n\n\n\n\nAssets under Administration\n\n\n£944m\n\n\n£1,028m\n\n\n\n\nEuropean Embedded Value\n\n\n£204m\n\n\n£226m\n\n\n\n\n \n*new business levels for FY 2013 have been restated to reflect only Hansard International\n** subject to approval at the AGM\n \n \nStrategy IMPLEMENTATION\n \nFollowing the launch of our reinvigorated strategy and new products in Q4 2014, market development activities have generated encouraging interest among Independent Financial Advisors and contract holders around the world. As a result we have entered into business relationships with a number of new significant IFA networks and other institutions in our target markets and plans are being implemented which will provide a platform for sustainable diversified new business flows in the medium to long term. \n \nSince we began building the base for our new distribution strategy we have added 33 new Terms of Business with networks.\n \nTRADING RESULTS \n \nThe Group has traded profitably during FY 2014, generated strong positive cash flows and, in line with guidance, paid a progressive dividend.\n \nDuring the year the Group implemented the revised Operating Model for Hansard Europe and has been successful in harnessing process efficiencies and reducing administrative headcount, as planned. The benefits of these savings have been outweighed by a number of non-recur...