Chesnara (CSN)

Sector:

Insurance

Index:

FTSE Small Cap

260.00p
   
  • Change Today:
      5.00p
  • 52 Week High: 286.00
  • 52 Week Low: 244.50
  • Currency: UK Pounds
  • Shares Issued: 150.86m
  • Volume: 128,782
  • Market Cap: £392.22m
  • RiskGrade: 146
  • Beta: 0.39

Chesnara reports strong cash generation, though earnings dip

By Josh White

Date: Tuesday 10 Sep 2024

LONDON (ShareCast) - (Sharecast News) - Chesnara reported strong cash generation and continued dividend growth in its interim results on Tuesday, although its earnings dipped compared to last year.

The London-listed company said it generated £29m in commercial cash in the first half of the year, up from £22m during the same period in 2023.

Its solvency ratio remained robust at 201%, comfortably exceeding its target range of 140% to 160%.

The company said its economic value (EcV) stood at £508m as of 30 June - a slight decline from £525m at the end of 2023.

Chesnara reported EcV earnings of £20m before the impact of foreign exchange and dividend payments, down from £33m in the prior year, which had included acquisitions.

In terms of new business, Chesnara reported a commercial value of £5m for the first half, compared to £6m in the same period last year.

IFRS pre-tax profit came in at £13m, down from £15m year-on-year.

Despite the decline in profit, the company still raised its interim dividend by 3%, now offering shareholders 8.61p per share, making for 20 consecutive years of uninterrupted dividend growth.

"The group has yet again delivered strong cash generation and generated positive organic EcV earnings," said group chief executive officer Steve Murray.

"This financial performance over the first half of the year, combined with our robust solvency position, has allowed us to extend our track record of uninterrupted dividend growth to 20 years, unrivalled across listed UK and European insurers."

Murray said the company's people also continued to deliver on its major operational programmes, including the introduction of Consumer Duty for UK closed books.

"We have continued to be active in assessing potential acquisitions, our merger and acquisition pipeline remains positive and we continue to have material firepower to deploy on opportunities."

At 1149 BST, shares in Chesnara were down 1.52% at 259.5p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Chesnara Market Data

Currency UK Pounds
Share Price 260.00p
Change Today 5.00p
% Change 1.96 %
52 Week High 286.00
52 Week Low 244.50
Volume 128,782
Shares Issued 150.86m
Market Cap £392.22m
Beta 0.39
RiskGrade 146

Chesnara Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
87.53% above the market average87.53% above the market average87.53% above the market average87.53% above the market average87.53% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Price Trend
2.78% above the market average2.78% above the market average2.78% above the market average2.78% above the market average2.78% above the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Income
90.51% above the market average90.51% above the market average90.51% above the market average90.51% above the market average90.51% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Growth
60.49% below the market average60.49% below the market average60.49% below the market average60.49% below the market average60.49% below the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Chesnara Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-24 11-Apr-24
Paid 01-Nov-24 28-May-24
Amount 8.61p 15.61p

Trades for 06-Dec-2024

Time Volume / Share Price
16:35 62,241 @ 260.00p
16:35 791 @ 260.00p
16:35 31,488 @ 260.00p
16:35 1,589 @ 260.00p
16:35 2,616 @ 260.00p

Chesnara Key Personnel

Chair Luke Savage
CFO Tom Howard

Top of Page