Interim Management Statement
· We have entered into business relationships with a number of new significant IFA networks and other institutions in our target markets and plans are being implemented which will provide a platform for sustainable and diversified new business flows in the medium to long term;
· The Group has traded profitably during the period and generated positive cash flows;
· As previously reported, new business in Q1 2015 is approximately 30% less than Q4 2014;
· Our estimate of the Group's exposure, including professional costs, in relation to the issue of Chargeable Events Certificates previously announced, remains unchanged at £5m;
· Writs totalling approximately £5.9m remain outstanding against Hansard Europe (FY 2014: £5.9m);
· An increased final dividend of 5.0p per share was approved at the Annual General Meeting, for payment on 13 November 2014 (2013: 4.75p).
Gordon Marr, Group Chief Executive Officer, commented:
"We remain confident that, through the implementation of our Strategic Plan, the Group will be better placed to deliver increased levels of profitable new business, and diversify our exposure across a range of distributors and countries."