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CSN - Chesnara News Story

299.73p 1.7  0.6%

Last Trade - 2:24pm

Sector
Financials
Size
Mid Cap
Market Cap £447.2m
Enterprise Value £356.8m
Revenue £539.3m
Position in Universe 497th / 1834

Chesnara profit rises; warns low interest rates to hit cash generation

Thu 29th August, 2019 7:28am
Aug 29 (Reuters) - Pension and life insurance administrator
Chesnara  CSN.L  said on Thursday it posted higher first-half
profit, as its Scildon business benefited from better conditions
in the investment market, but it warned low interest rates will
strain its cash generation.
    The company said pretax profit more than doubled to 66.6
million pounds ($81.76 million) for the six months ended June
30, but divisional cash generation plummeted to 2.4 million
pounds, a fraction of the 53.1 million pounds reported a year
earlier.
    
($1 = 0.8145 pounds)

 (Reporting by Muvija M in Bengaluru; Editing by Bernard Orr)
 ((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91
80 6749 3638;))
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