Hansard Share News (HSD)

Long-term savings provider Hansard Global is trading in line with expectations and thinks it will generate positive cash flows despite difficult market conditions."Hansard is confident that its business model and prospects remain strong, expects continued profitability and maintains a positive outlook for resumption in new business growth in the longer term," it said in an update Friday. "The board remains confident in maintaining its dividend policy, underpinned by the group's strong balance sheet." It paid an interim dividend of 5.25p a share.But the company warned that tough conditions will continue to restrain new business flows and European Embedded Value (EEV) growth in the near term. New business premiums on the Present Value of New Business Premiums (PVNBP) basis fell 30% in the ten months to 1 May to £138.7m. The flow of single premium business is down 28% on the same time last year, while regular premium business has slumped by 33% to £59.6m.New business premiums on an Annualised Premium Equivalent (APE) basis dropped to £18.3m from £26.4m.Results for the year ending 30 June 2009 will be announced on 24 September.