Chesnara reports strong 2023 results with improved cash generation and solvency ratio
–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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View source version on newsdirect.com: https://newsdirect.com/news/chesnara-reports-strong-2023-results-with-improved-cash-generation-and-solvency-ratio-147017038
Chesnara PLC
COMTEX_450229600/2655/2024-04-02T10:56:48
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