• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Business Development

Hansard reports half-yearly fall in profits yet revenues rise

Hansard reports half-yearly fall in profits yet revenues rise
  • Pedro Gonçalves
  • @PeterHSG
  • 05 March 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Hansard Global, the specialist long-term savings provider, has published its results for the six months ended 31 December 2019.

The results reveal new business levels for the group were £80.1m for 1H2020 (on a present value of new business premiums basis), up 8% from 1H2019.

Related articles

  • EXCLUSIVE: Hansard moves to 'mature, advanced' stages with 2020 Japan roll-out plans
  • Hansard bullish despite profit drop as latest figures announced
  • Hansard's LatAm business drives modest growth in full-year results
  • Hansard sees AuM improve as it expects further growth in Far East

The results, filed according to International Financial Reporting Standards (IFRS), show profits were £2.6m for the period, a fall from £3m in 1H2019. 

Our underlying revenue is improving and we have made a number of cost savings in order to fund our investment in other parts of the business”

The company said profits were impacted by a £900,000 decline in investment income as a result of foreign exchange movements and lower deposit interest rates. Underlying revenue, however, increased marginally with fees and commissions earned up to £25.5m compared to £25m in 1H2019.

Hansard said there is "good momentum" from changes made over the past year, with growth of the Japanese business a particular focus for 2020.

In a statement via the LSE, the firm said: "We remain focused on progressing our new Japanese proposition and will update the market when we achieve our next key milestone, the signing of formal distribution agreements."

Yet the statement also cautioned that the impact of the coronavirus could have a detrimental effect on business in the coming months. 

Gordon Marr, group CEO, commented: "While we were adversely impacted by foreign exchange volatility in the first half of our financial year, our underlying revenue is improving and we have made a number of cost savings in order to fund our investment in other parts of the business."

Marr added: "There is good momentum in the business with particularly strong new business levels in Latin America and the Middle East. Overall, our focus for 2020 remains on our two key strategic projects - launching our new investment product in Japan and replacing our policy administration system."

On Wednesday Hansard confirmed it has appointed Philip Kay as an independent non-executive director, effective from Tuesday.

 

Subscribe to International Investment's free, twice-daily, newsletter

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Business Development
  • Hansard Global
  • Hansard
  • LSE
  • Gordon Marr
  • Japan
  • Middle East
  • Latin America
  • Results

More on Business Development

Vanguard launches restricted financial planning arm

  • Business Development
  • 19 April 2021
Wealth firm launches in Dubai under DFSA rules

  • Business Development
  • 14 April 2021
International platform opens Edinburgh office

  • Business Development
  • 12 April 2021
CISI launches ESG course to help sector 'unravel jargon'

  • Business Development
  • 12 April 2021
Schroders launches £4bn UK Investment Solutions business

  • Business Development
  • 07 April 2021
Back to Top

Most read

Pension lifetime allowance warning for clients with £500k already invested
Pension lifetime allowance warning for clients with £500k already invested
UK regulator bans financial adviser for dishonesty
UK regulator bans financial adviser for dishonesty
UK's HMRC extends deadline for 'one of the biggest tasks facing advisers'
UK's HMRC extends deadline for 'one of the biggest tasks facing advisers'
VIDEO EXCLUSIVE: The Big Interview - Paul Thompson, Group CEO, Utmost
VIDEO EXCLUSIVE: The Big Interview - Paul Thompson, Group CEO, Utmost
Dogecoin warning as Bank of England sets up digital currency taskforce
Dogecoin warning as Bank of England sets up digital currency taskforce
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading