Hansard Global (HSD)

Sector:

Insurance

Index:

FTSE Fledgling

39.95p
   
  • Change Today:
      0.75p
  • 52 Week High: 61.00p
  • 52 Week Low: 36.20p
  • Currency: UK Pounds
  • Shares Issued: 137.45m
  • Volume: 2,047
  • Market Cap: £54.91m
  • RiskGrade: 176
  • Beta: 0.00

Hansard Global lauds underlying strength as one-offs hit annual profits

Date: Thursday 26 Sep 2013

LONDON (ShareCast) - Litigation payments and the closure of its continental European business held back profit growth at long-term savings specialist Hansard Global.

The FTSE SmallCap listed firm, which provides life assurance wrappers to independent financial advisers and their clients, saw its statutory post-tax profit fall 7% in the year to the end of June, having achieved a record level of regular premium new business of £156.2m.

However, if prior to the exceptional items of litigation and closure costs the business would have recorded a 14.4% increase to £12.7m.

Furthermore, profits reported according to the European Embedded Value (EEV) basis used by life insurance companies to reflect their long-term value, would see profit for the year of £17m, compared with a loss of £13.7m in the previous year,.

The EEV profit was driven by increased new business profits and investment returns, as the former FTSE 250 company made its operations more efficient with the removal of certain costs and reduction of staff numbers from 243 to 209.

These savings were outweighed by the effects of those litigation settlements of £1.6m, and by the charge of £0.4m taken in relation to the closure of Hansard Europe to new business in the current year but Chief Executive Officer Gordon Marr is confident about their effect in future years.

Looking forward, he said: “We plan to refresh certain aspects of the Group's new business strategies with our new Chief Distribution Officer, Graham Morrall, in order to further diversify new business flows, reduce risk and increase the scale of our business.

“Whilst wider market conditions are uncertain, we are confident that our strategy of focusing on regular premium business in growth markets will maintain growth in new business and that our investments in terms of recruitment, Hansard OnLine and infrastructure will continue to bear fruit."

Shares in HSD were up 2.5% to 121p at 08:30 on Thursday.

OH

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Hansard Global Market Data

Currency UK Pounds
Share Price 39.95p
Change Today 0.75p
% Change 1.91 %
52 Week High 61.00p
52 Week Low 36.20p
Volume 2,047
Shares Issued 137.45m
Market Cap £54.91m
Beta 0.00
RiskGrade 176

Hansard Global Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.17% above the market average91.17% above the market average91.17% above the market average91.17% above the market average91.17% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Price Trend
59.28% below the market average59.28% below the market average59.28% below the market average59.28% below the market average59.28% below the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Income
92.56% above the market average92.56% above the market average92.56% above the market average92.56% above the market average92.56% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
93.47% below the market average93.47% below the market average93.47% below the market average93.47% below the market average93.47% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
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Hansard Global Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Mar-19 04-Oct-18
Paid 23-Apr-19 15-Nov-18
Amount 1.80p 2.65p

Trades for 19-Sep-2019

Time Volume / Share Price
16:29 97 @ 38.00p
13:10 1,950 @ 42.60p

Hansard Global Key Personnel

Chair Philip Gregory
CFO Tim Davies

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