IN BRIEF: Hansard Global holds dividend despite profit slump

Hansard Global PLC - specialist long-term savings provider - declares unchanged interim dividend of 1.8p per share for the six months ended December 31. Reports pretax profit of around £500,000, down 88% from £4.1 million the year before ‘due to currency movements, strategic investment, new IT system depreciation costs, and litigation costs’. Fees & commissions decrease to £21.3 million from £21.5 million, while investment & other income fall to £2.4 million from £3.1 million. New business sales in PVNBP terms however increase 36% to £49.1 million from £36.2 million. Chief Executive Thomas Morfett says: ‘There are early signs that our recently launched products and fund range are appealing to clients and advisors. Nevertheless, as we navigate continuing regulatory changes and a challenging financial landscape, we anticipate that it will take time for the growth in new business to translate into improvements in income and profitability.’

Current stock price: 50.50 pence, down 0.5% in London on Wednesday

12-month change: up 3.9%

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