Life and pensions group Chesnara (LON:CSN) has said its first half pre-tax profits were hit by the Brexit vote and more specifically the subsequent move by the Bank of England to reduce interest rates.
However chief executive John Deane told Proactive that the impact on cash generation and pre-tax profits were countered, in part, as it benefited from foreign exchange movements.
''We've had significant cash contributions from our Swedish and Dutch businesses balancing what's been a lower cash contribution from our UK business because that's more impacted by the yield curve'', John Deane said.
Chesnara confirmed it's continuing its search to add value to the business through acquisition opportunities.
