Business
Results for the six months ended 31 December 2022
Results for the six months ended 31 December 2022.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 9 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Hansard Global plc\n \n \n \n \n Results for the six months ended 31 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n Hansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider, issues\n its results for the six months ended 31 December 2022.\n All figures refer to the six months ended 31 December 2022 (\"H1 2023\"), except where indicated.\n \n \n \n ·\n IFRS profit before tax was £3.1m for the period, up from £1.9m in H1 2022;\n \n \n ·\n The current year result has improved as a result of reduced administrative expenses, improved interest rates and favourable foreign exchange movements. The prior year result included non-recurring provisions of £0.8m related to a range of funds in liquidation;\n \n \n ·\n Fees and commissions earned totalled £22.9m for H1 2023 compared to £25.2m for H1 2022, reflecting lower levels of new business in the current financial year;\n \n \n ·\n Lower fees and commissions were mitigated by reduced administrative and other expenses which were £14.1m for H1 2023 compared to £15.4m in H1 2022;\n \n \n ·\n Assets under administration were £1.10 billion as at 31 December 2022, largely unchanged from £1.09 billion as at 30 June 2022;\n \n \n ·\n Value of in-force as at 31 December 2022 was £124.9m (30 June 2022: £128.5m);\n \n \n ·\n The Board has declared an interim dividend of 1.8p per share (H1 2022: 1.8p);\n \n \n ·\n We continue to progress the launch of a new proposition in the Middle East to assist growing our business in that market and to develop distribution opportunities for our Japanese proposition;\n \n \n ·\n We remain on track to replace our policy administration systems to support our next generation of products and to realise future cost and efficiency gain\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n H1 2023\n \n \n \n \n \n H1 2022\n \n \n \n \n \n \n IFRS profit before tax\n \n \n \n \n \n £3.1m\n \n \n \n \n \n £1.9m\n \n \n \n \n \n \n IFRS fees and commissions\n \n \n \n \n \n £22.9m\n \n \n \n \n \n £25.2m\n \n \n \n \n \n \n IFRS administrative and other expenses\n \n \n \n \n \n £14.1m\n \n \n \n \n \n ...