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

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Share Price Information for Hansard (HSD)

London Stock Exchange
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Share Price: 47.20
Bid: 47.20
Ask: 50.50
Change: 0.15 (0.31%)
Spread: 3.30 (6.992%)
Open: 48.20
High: 50.00
Low: 47.20
Prev. Close: 48.70
HSD Live PriceLast checked at -

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

Thu, 26th Sep 2013 08:23

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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Hansard Global Interim Profit Takes Hit From Challenges In Europe

LONDON (Alliance News) - Hansard Global PLC on Thursday said it registered a double-digit fall in profit in the first half of its current financial year due to lower fee income from its European a

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24 Jan 2019 09:34

Hansard Global new business activity slips in first half

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28 Nov 2018 16:38

DIRECTOR DEALINGS: Hansard Global Chief Strategy Officer Buys Shares

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31 Oct 2018 16:06

UK Shareholder Meetings Calendar - Next 7 Days

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27 Sep 2018 12:54

Hansard Global Final Dividend Cut As Profit And Income Drop

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30 Jul 2018 18:39

DIRECTOR DEALINGS: Hansard Global Non-Executive Chairman Buys Shares

LONDON (Alliance News) - Financial services company Hansard Global PLC said Non-Executive Chairman Leonard Polonsky purchased 175,000 shares at a price of 62.00 pence per share on has not been how

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26 Jul 2018 17:37

DIRECTOR DEALINGS: Hansard Global Director Polonsky Buys Shares

LONDON (Alliance News) - Hansard Global PLC said that Non-Executive Director Leonard Polonsky purchased 300,000 shares over the course of six days.100,000 shares were purchased at a price

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17 May 2018 10:59

Hansard Global Launches New Bahamas-Based Insurance Business

LONDON (Alliance News) - Hansard Global PLC on Thursday announced that it has launched a new insurance company to support its presence in markets such as Latin America.The new business is a

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10 Nov 2016 10:54

Hansard Global confident of delivering growth thanks to new business

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22 Sep 2016 15:54

Hansard Global sales grow, but earnings slip

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Hansard Global Shares Drop As Closed Business Legacy Hits Profit

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Hansard Global New Business Doubles On Growth In Middle East, Africa

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