HARDMAN & CO RESEARCH Hardman & Co Research on Chesnara Plc (CSN): Steady as she goes!
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Hardman & Co Research
Hardman & Co Research on Chesnara Plc (CSN): Steady as she goes!
Chesnara has announced its 1H’24 results. The main features were positive equity market returns, offset to some extent by further adverse lapse experience. Economic Value profit of £20.2m was behind the 1H’23 result of £32.6m (excl. acquisitions). Economic Value saw a small decline to £508m, from £525m at the year-end, with the dividend payment and forex losses offsetting the earnings. Cash generation was solid, with base cash of £19.6m and commercial cash generation of £29.2m. The interim dividend, as expected, was increased by 3% to 8.61p. This will be the 20th consecutive year of dividend increases.
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1995923 26-Sep-2024
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