Highlights
IFRS profit before tax increased by 25.7% for the six months ended 30 June 2014 to £27.4m (30 June 2013: £21.8m)
Increase of 6.3% in EEV to £400.3m (31 December 2013: £376.4m)
Increase of 33.6% in EEV post-tax profit to £47.3m (30 June 2013: £35.4m, excluding modelling adjustments)
Movestic increases EEV new business contribution to £5.8m (30 June 2013: £2.3m)
Strong gross cash generation of £16.0m (30 June 2013: £21.9m)
Group solvency ratio remains, post dividend, strong at 192% (31 December 2013: 194%)
Subsidiary solvency ratios also strong and above targets. CA at 250% (31 December 2013: 218%), Protection Life at 176% (31 December 2013: 156%) and Movestic at 350% (31 December 2013: 311%)
Shareholder equity of 348.5p per share on an EEV basis (31 December 2013: 327.7p per share)
Earnings per share (on an IFRS basis) of 19.87p (30 June 2013: 15.01p)
6.42p interim dividend per share declared (2013: 6.25p), an increase of 2.7%
Board remains focussed on offering shareholders an attractive dividend flow
Search for value adding acquisition opportunities continues
Commenting on the results, Graham Kettleborough, Chief Executive said:
"I am, again, pleased to be able to deliver another strong set of results. All our businesses are performing well and, consequently, we are able to continue our dividend growth and declare a 2.7% increase in the interim dividend to 6.42p per share."
