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PRIVACY
Enterprise

Countrywide Assured owner Chesnara surges back to half-year profit while revenue passes £150m

The listed company has also raised its dividend

Chesnara is a pensions and insurance company

The Preston-based owner of Countrywide Assured surged back into making a half-year profit during the first six months of 2021 while its revenue passed the £150m mark.

Chesnara has reported a profit of £20.8m for the period to June 30, compared to the pre-tax loss of £9m it reported during the same time in 2020.

The company's insurance premium revenue also increased from £139.4m to £152.2m.

READ MORE: Pubs and hotel group fell into administration owing almost £2m

The figures come after the business reported a revenue of £293.3m and pre-tax profit of £24.5m for the year to December 31, 2020, in March.

Group chief executive John Deane said: "The interim dividend increase of 3% to 7.88p we have announced today is our 17th annual increase which is an enviable track record.

"I have been pleased with our continued financial stability during the period combined with further asset value growth being delivered.

"The clear expectation of future divisional dividend remittances means I am pleased to report our dividend growth strategy remains unchanged.