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Chesnara Plc 'quietly pleased' with first-half results

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.

Quick facts: Chesnara PLC

Price: 274 GBX

LSE:CSN
Market: LSE
Market Cap: £411.21 m
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Chesnara PLC keeping its head down and doing more of the same after...

John Deane, chief executive of Chesnara Plc (LON:CSN), discusses with Proactive's Andrew Scott the life and pensions company's 2017 results. Full year profits more than doubled on the back of its acquisition of Legal and General’s Dutch insurance unit. Deane says: ''We're really...

on 30/3/18

2 min read