StockMarketWire.com - Chesnara raised its dividend after swinging to a first-half profit, led by strong performance in its UK and Netherlands segments.

For the six months ended 30 June, pre-tax profit as £20.8 million compared with a loss of £9.1 million.

Cash generation was pressured by a £29.0 million adverse impact of equity investment growth on solvency II capital requirements and a £9.4 million negative foreign exchange impact, the company said.

The company said it continued to be well capitalised with group solvency ratio at 153%. That compared with a pre-pandemic level of 155%.

The company raised its interim dividend by 3% to 7.88p per share.

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