Business
Update on trading and impact of COVID-19
Update on trading and impact of COVID-19.
About this update from Hansard Global Plc
[{"type":"text","content":"\n \n \n RNS Number : 1669M\n Hansard Global plc\n 07 May 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 7 May 2020\n \n \n \n \n \n \n \n \n Hansard Global plc\n \n \n Update on trading for the period ended 31 March 2020 and impact of COVID-19\n \n \n \n \n \n \n \n \n Hansard Global plc (\"Hansard\" or \"the Group\"), the specialist long-term savings provider\n , \n issues \n its trading update for the quarter ended 31 March 2020 \n (\"Q3 2020\")\n . \n All figures refer to this period, except where indicated. Year to date figures refer to 1 July 2019 to 31 March 2020.\n \n \n \n \n \n Summary\n \n \n ·\n New business for Q3 2020 was £38.4m in PVNBP (\"Present Value of New Business Premiums\") terms, an increase of 12.6% on Q3 2019.\n \n \n · \n For the year to 31 March 2020, new business was £118.5m, an increase of 9.4% on the comparative prior year period.\n \n \n · \n Our Latin American region continues to lead the way in terms of new business growth as our Hansard Worldwide proposition and award-winning levels of customer service continue to be well received.\n \n \n · \n Assets under administration suffered in line with the global stock market sell-off in March and were £953.5m at 31 March 2020, down 12% from £1,085.4m at 31 December 2019.\n \n \n · \n The Covid-19 virus has had a limited impact on our new business in Q3 2020. We expect Q4 to be more challenging but believe our business model is well positioned to manage through these economic and operational difficulties.\n \n \n · \n The Group remains well capitalised and in a position to satisfy its financial obligations. We have not required \n any government-backed financial support nor placed any staff on furlough.\n \n \n · \n Our previously announced dividend was paid as planned on 21 April 2020. The Board will continue to monitor the current and future financial position of the Group in respect of future dividends, taking into account the outlook for the global economy and markets.\n \n \n \n \n \n Gordon Marr, Group Chief Executive Officer, commented:\n \n \n \"The global spread of Covid-19 has presented unprecedented challenges to public health and businesses. The well-being and safety of our employees has been paramount and it is to their great c...