--News Direct--
Chesnara PLC chief executive Steve Murray discusses the company's full-year results for 2023 with Proactive's Stephen Gunnion, describing them as strong and particularly highlighting £53 million in commercial cash generation and a dividend coverage of around 150%.
The company has seen a return to economic growth, with an improvement in the solvency ratio to 205%, the highest in its nearly 20-year history. New business improved to £10 million. It also completed two acquisitions this year, contributing to its M&A momentum.
Chesnara announced a 3% increase in its full-year dividend to 23.97p per share, continuing a 19-year track record of increasing dividends.
Operational efficiency improvements were noted, particularly in cost management, contributing to profitability. Despite economic challenges in recent years, Chesnara anticipates a more stable operating environment and is well-positioned to handle market volatility.
Murray said Chesnara also plans to continue its acquisition strategy, supported by a solid balance sheet and financing options, including about £140 million in cash and a revolving credit facility.
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