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Trading statements

Hansard sees increased new business levels

12 May 2016 07:57

Hansard Global says it continued to deliver significantly increased new business levels compared to the prior financial year.

Q3 2016 new business was £30.4m PVNBP ('Present Value of New Business Premiums'), which is approximately 167% higher than the equivalent prior year quarter. Year-to-date new business to 31 March 2016 was £86.8m, approximately 113% higher than the prior year period.

It said that despite Q3 historically experiencing a seasonal dip in the early part of the calendar year, Q3 2016 has maintained the solid growth momentum displayed in the past 4 quarters, with the £30.4m PVNBP sold having increased from the underlying PVNBP of £28.5m in Q2 2016 (excluding the related party single premium reported in Q2 2016).

The Group's product and distribution strategy continues to gain broader traction in multiple territories, with the Rest of the World region showing particularly strong growth in Q3 2016.

The Group said it traded profitably during the period and generated net positive cash flows before dividends.

Group chief executive Gordon Marr said: "We continue to work hard to implement our strategy and generate increased levels of sustainable new business. We are focussing on replicating the current successes experienced in a number of territories more widely and we continue to invest for the future in targeted locations where we believe new licenses can deliver significant opportunity."

Story provided by StockMarketWire.com

Related Company: HSD

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