Business
Results for the six months ended 31 December 2015
Results for the six months ended 31 December 2015.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \nRNS Number : 0781Q Hansard Global plc 25 February 2016 \n\n \n \n \n \n25 February 2016\n \n \nHansard Global plc\nResults for the six months ended 31 December 2015\nHansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider, issues its results for the six months ended 31 December 2015. All figures refer to the six months ended 31 December 2015 (\"H1 2016\"), except where indicated. \nSUMMARY\n· As announced in our January new business announcement, new business levels are £56.4m on a PVNBP basis, up 92% from the previous financial period as success in the Middle East & Africa is starting to be replicated across other regions; \n· IFRS profits were £4.9m for the period, down from £6.6m in H1 2015. Most of this reduction is due to lower fee income from Hansard Europe which was closed to new business in 2013. Global stock market declines in the period have also reduced annual management charges earned across the Group;\n· EEV profit after tax was £1.2m (H1 2015: £6.6m). Both 2016 and 2015 figures are predominantly driven by stock market and foreign exchange market changes;\n \n· New business contribution and margin have improved from the levels of last year to be profitable in Q2 and we expect to see further positive progression over time;\n· The Board has declared an increased interim dividend of 3.6p per share; \n· Litigation against Hansard Europe has increased by a net £1m since the date of release of our full year 2015 results, primarily due to additional complainants adding to existing actions. We have however had some important successes with two cases in Belgium and one case in Italy being ruled fully in our favour (removing £1m of exposure).\n \n\n\n\n\n \n\n\nH1 2016\n\n\n H1 2015\n\n\n\n\nNew business sales - PVNBP\nIFRS profit after tax\n\n\n£56.4m\n£4.9m\n\n\n£29.4m\n£6.6m\n\n\n\n\nEEV profit after tax\n\n\n£1.2m\n\n\n£6.6m\n\n\n\n\nIFRS basic earnings per share\nInterim dividend - to be paid on 31 March 2016\n\n\n3.5p\n3.6p\n\n\n4.8p\n3.5p\n\n\n\n\n \n\n\n\n\nAs at\n\n\n31 December\n\n\n30 June\n\n\n\n\n \n\n\n2015\n\n\n2015\n\n\n\n\nAssets under Admi...