5 September 2016 – interim results
The specialist non-life insurance investor has announced its interim results for the six months to 30 June and these have revealed that the group made pre-tax profits of £1.23m against a loss of £4.53m in the first half of 2015. This was a much improved performance and the group also made foreign exchange gains of almost £5m which are not reflected in the profit figure. The group has proposed an interim dividend of 3.4p, the same as last year from earnings per share of 1.5p although as usual the group’s results for the year will be heavily weighted to the second half. With further positive progress expected over the rest of the year the shares remain a BUY.