LONDON (Alliance News) - Hansard Global PLC Thursday expressed confidence that changes it has implemented over the last year and a half will have a positive impact on its new business flows, and raised its interim dividend.
The long-term savings provider proposed an interim dividend of 3.5 pence for the half year to end-December 2014, up from 3.4 pence a year before.
It posted a pretax profit of GBP6.6 million, broadly in line with GBP6.7 million a year before, as a rise in revenue to GBP62.7 million from GBP32.2 million was offset by a GBP33.2 million change in provisions for investment contract liabilities.
Hansard said its continuing discussions with UK tax authorities in order to finalise its liability from breaches in chargeable-event certificate regulations. It continues to expects its final liability will be around GBP5.0 million.
"We believe that we now have appropriate resources to deliver our strategy and achieve our objectives of driving increased new business volumes. Since the launch of our strategic plan last year, we have entered into 53 new relationships with Independent Financial Adviser networks," said Chief Executive Officer Gordon Marr in a statement.
"We anticipate that these new relationships will begin to deliver increased levels of profitable new business, and diversify our exposure across a range of distributors and countries, in the second half of the financial year and beyond," Marr added.
Shares in Hansard were trading down 0.5% at 87.40 pence Thursday midday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Hansard (HSD)