Business
Results for the year ended 30 June 2017
Results for the year ended 30 June 2017.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \nRNS Number : 0302S Hansard Global plc 28 September 2017 \n\n \n \n \n \n \n \n \n \n28 September 2017\n \n \n \nHansard Global plc\nResults for the year ended 30 June 2017\n \nHansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider, issues its results for the year ended 30 June 2017 (\"FY 2017\"). \n \nSummary\n \n\n\n\n\n\n\n\nFY 2017\n\n\n FY 2016\n\n\n\n\nNew business sales - PVNBP\n\n\n£148.3m\n\n\n£119.3m\n\n\n\n\nOperating cash surplus\nIFRS underlying profit after tax\n\n\n£22.7m\n£8.8m\n\n\n£15.9m\n£9.2m\n\n\n\n\nIFRS profit after tax\n\n\n£7.7m\n\n\n£8.3m\n\n\n\n\nEEV profit after tax\n\n\n11.7m\n\n\n13.1m\n\n\n\n\nRecommended final dividend per share*\n\n\n5.3p\n\n\n5.3p\n\n\n\n\nIFRS earnings per share\n\n\n5.6p\n\n\n6.0p\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\n2017\n\n\n2016\n\n\n\n\nAssets under Administration\n\n\n£1,050m\n\n\n£923m\n\n\n\n\nEuropean Embedded Value\n\n\n£196m\n\n\n£196m\n\n\n\n\n \n* subject to approval at the AGM\n \n \nGordon Marr, Group Chief Executive Officer, commented:\n\"Our annual results again demonstrate the continuing trend of strong, diversified levels of new business growth across all the regions in which we operate. We are confident that we can continue to leverage opportunities for growth while maintaining an efficient cost base and that this will ultimately produce attractive returns.\"\n \n \n\n\n\nNEW BUSINESS \nAs previously announced, our new business levels of £148.3m are up 24% on FY 2016 on a Present Value of New Business Premiums (\"PVNBP\") basis. We continue to make good progress in line with our strategy and achieved strong growth across all our regions. We are pleased with the geographic diversification of our new business, insulating us from concentration risk.\n \nStrategy IMPLEMENTATION\nAs we continued to achieve growth with our existing distribution, we were pleased to announce in January 2017 a strategic alliance with a local insurer in the United Arab Emirates. We have seen encouraging levels of interest in this product suite and expect sales to continue to increase month on month during FY 2018. We also continue to review and pursue opportunities for addit...