LONDON (Alliance News) - Long-term savings provider Hansard Global PLC on said its new business volumes improved in the first quarter and it traded positively in the period.
New business in the first quarter to the end of September, measured by present value of new business premiums, rose 42% year-on-year, in line with the fourth quarter of its 2015 financial year.
Hansard said it traded profitably in the period and generated positive cash flows.
"Despite global stock markets experiencing significant declines during the past quarter, we are pleased that the encouraging trend in our new business levels has continued and that we have maintained the momentum that we have built up over the past two quarters in both the levels of business written and our pipeline," said Gordon Marr, Hansard's chief executive.
"We are encouraged by the results we are seeing from our approach and continue to work hard to ensure that the strategic investment made to our products and distribution network is leveraged across all the regions where we operate," he added.
Shares in Hansard were down 6.8% to 109.00 pence on Friday morning, one of the worst performers in the FTSE All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Hansard (HSD)