Curated News
By: NewsRamp Editorial Staff
April 02, 2024
Chesnara PLC CEO Steve Murray Discusses Strong 2023 Results with Proactive
TLDR
- Chesnara PLC's full-year results highlight £53 million in commercial cash generation, offering a competitive advantage in the financial market.
- Chesnara PLC's operational efficiency improvements and 3% increase in full-year dividend showcase a solid financial strategy.
- Chesnara PLC's improved cash generation and solvency ratio contribute to a more stable operating environment, benefiting the financial sector.
- Chesnara PLC's 19-year track record of increasing dividends and two recent acquisitions demonstrate a strong and successful financial track record.
Impact - Why it Matters
The strong 2023 results of Chesnara PLC, including improved cash generation and a high solvency ratio, indicate stability and growth in the company's operations. This demonstrates the company's resilience in the face of economic challenges and its ability to navigate market volatility. The commitment to increasing dividends and a continued acquisition strategy also reflects Chesnara's long-term vision for success and sustainability in the industry.
Summary
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.
Source Statement
This curated news summary relied on content disributed by News Direct. Read the original source here, Chesnara PLC CEO Steve Murray Discusses Strong 2023 Results with Proactive
