Hansard Global sales grow, but earnings slip

Specialist long-term savings provider Hansard Global issued its results for the year to 30 June on Thursday, with new business sales of £119.3m up from £60.6m.

The London-listed company posted an operating cash surplus of £15.9m, which was down from £24.3m in the prior year, and an IFRS underlying profit after tax of £9.2m, compared with £12m.

Its EEV operating loss after tax narrowed, however, to £1.1m from £6.3m.

IFRS earnings per share dropped to 6p, from 10.9p, and the board recommended a final dividend per share of 5.3p, up marginally from the 5.25p paid in 2015.

“We are very pleased with the delivery of sustained new business growth over the past year,” said group chief executive Gordon Marr.

“The doubling of our full year business levels has put us on a strong footing after a year of transition in 2015.

“We see further opportunities for growth in new and existing markets and are confident of achieving this in the coming financial year.”