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Hansard posts strong first half results

International life company Hansard Global delivered strong results.

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In the year ending December 2010 (H1 2011), Hansard generated IFRS profit after tax of £8.4m, slightly behind the £9.2m achieved in the second half of 2009, but increased new business sales over the same period by £41m to £114.5m.

The company also increased EEV operating profit after tax by £2.6m and increased assets under administration from £1.1bn to £1.3bn over the six month period.

Hansard chairman Leonard Polonsky acknowledged the reduction in the company’s IFRS profits, but said this was partly down to low interest rates and the firms’ development expenditure.

“I am pleased to report that Hansard’s performance in the first six months of the financial year indicates that the measures taken in prior periods to invest in distribution infrastructure and to focus on growth markets are bearing fruit,” he said.

The company’s board has also decided to increase the interim dividend by 0.25p to 5.75p per share.
 

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