Chesnara plc (CSN.L), a UK-based life and pensions consolidator, on Thursday reported a pre-tax loss for the first half, compared to a profit last year, hurt mainly by investment return loss, amid flat revenue.
In the half year, the company swung to a loss before tax amounting to 4.6 million pounds, compared to a profit of 12.8 million pounds a year ago.
On after tax basis, net loss was 10.8 million pounds, compared to a profit of 0.4 million pounds a year ago.
In the first half, loss per share was 7.03 pence, compared to earnings of 0.24 pence a year ago.
Net investment result declined to 16.4 million pounds from 39.8 million pounds a year ago.
Insurance service results from revenue and services improved to 2.3 million pounds from a loss of 3.4 million pounds a year ago, mainly due to the reversal of losses from reinsurance contracts.
However, the insurance revenue remained flat at 136 million pounds, as the year-ago value.
Further, the company announced that a 3% increased interim dividend of 7.70 pounds per share is expected to be paid on October 17.
The record date for payment eligibility will be September 5.
On the London Stock Exchange, the shares were trading 1.06% lower at 283.96 pence.
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