Jelf pays maiden dividend

Independent financial services consultancy Jelf lifted full year revenue and offered a maiden dividend payment despite volatile and uncertain markets.

Independent financial services consultancy Jelf lifted full year revenue and offered a maiden dividend payment despite volatile and uncertain markets.

Pre-tax profit rose to £3.9m for the year ended September 30th 2012 from £3.2m the year before. Revenue for the period increased to £73m from £72.1m the year before.

Earnings per share increased 23% to 3.2p while net cash increased to £2.8m from net debt position of £3m the year before.

Sales at its insurance business rose 3% to £46.1m as margins improve.

"Bearing in mind the continuing soft insurance premium rating environment and intense competition at renewal, the 3% increase in Jelf Insurance Brokers revenue represents a good outcome and compares favourably with market growth in our core segments and with the performance of our key competitors," the group said in a statement.

Organic sales in the healthcare division of the employee benefits business rose 4.4% to £11.9m.

Chief Executive Alex Alway commented: "Strong trading during 2011/12 has enabled us to increase our income whilst the EBTIDAE profit margin has improved to 15% from 14% in 2011."

Trading since the start of October has been in line with company expectations and it is confident of further progress in the financial year ahead.

A maiden dividend payment of 1.3p per share has been announced to shareholders on the register by December 28th 2012.

CJ

Recommended

How to invest today? Look to the past, not the future
Investment strategy

How to invest today? Look to the past, not the future

The past few years have seen so many changes to our way of life that many people said we had entered a “new normal”. But as it turns out, the new norm…
18 Aug 2022
A new legal headache for Haleon
Stocks and shares

A new legal headache for Haleon

Haleon, GSK’s former consumer-products arm, spun off last month, has made a dismal debut on the stockmarket.
17 Aug 2022
Persimmon yields 12.7%, but can you trust it to deliver?
Share tips

Persimmon yields 12.7%, but can you trust it to deliver?

With a dividend yield of 12.7%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate a com…
17 Aug 2022
Cineworld faces a bleak future – investors should stay away
Share tips

Cineworld faces a bleak future – investors should stay away

Weighed down by crippling debts and with consumers tightening their belts, Cineworld's future does not look bright, says Rupert Hargreaves. Investors …
17 Aug 2022

Most Popular

Investors should get ready for a political revolution
UK Economy

Investors should get ready for a political revolution

Liz Truss will beat Rishi Sunak, cut taxes, and then shake up the Bank of England, says Helen Thomas
15 Aug 2022
How to protect your wealth as inflation hits new record highs
Investment strategy

How to protect your wealth as inflation hits new record highs

UK inflation has hit a new record high of 10.1%. It's going to hurt, says Dominic Frisby. Here's how you can protect your wealth.
17 Aug 2022
Don’t listen to the doom-mongers – the future is bright
Economy

Don’t listen to the doom-mongers – the future is bright

With volatile markets, raging inflation and industrial unrest, it may feel like things are bad and likely to get worse. But the end of the world is no…
15 Aug 2022