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LONDON (Alliance News) - Long-term savings firm Hansard Global PLC said Thursday new business and assets under administration increased in the third quarter, despite new business gains in the year-to-date lagging last year.
For the three months ended March, new business stood at GBP34.1 million. This represented a 4% rise on the year prior. For the first nine months of the financial year, new business was 1.4% lower at GBP108.3 million from GBP109.8 million the year prior.
Assets under administration expanded to GBP1.03 billion at the end of March, up 5.6% from GBP975 million at the end of December, in line with returns from global stock markets.
"We are pleased to have delivered a further quarter of new business growth with the main highlight clearly our locally-licensed partnership in the UAE," Hansard Chief Executive Officer Gordon Marr said. "We remain optimistic that opportunity for growth exists across each of our regions and continue in particular to make progress in our licence application process in Japan."
Shares in Hansard Global were 0.3% lower at 38.80 pence on Thursday.