Financial services firm completes year of ‘solid delivery’

PRESTON-based financial services group Chesnara says it has completed a year of “solid delivery” revenue and profits up.

In its finals results for the year ended today, March 31 the company reported gross cash generation of £44.2m (2014: £42.6m) and its newly acquired Swedish life assurance company Movestic has made its first positive contribution (£5.1m).

Acquisition of the Waard Group has added a further £39.9m of cash.

The company’s recommended final dividend of 12.33p per share results in total dividend for the year of 18.94p per share (2014: 18.40p per share).  The 2.9% increase represents the 11th successive rise in annual dividends.

 Chief executive John Deane said: “Chesnara has a very clear strategic focus,  delivering value from the existing books of business, making strategic acquisitions in the life and pensions sector and writing profitable new business in Sweden.
 
“2015 has seen delivery in all three areas:  The acquisition of the Waard Group has generated significant cash and, of equal importance, our entry to the Dutch market has enhanced the outlook for our ongoing acquisition strategy.
 
“Movestic has continued to grow and has made a material contribution to the Group’s cash generation.”