A good finish to the first season

News this week from Helios Underwriting, (HUW), who reported a 33% rise in profits and a 43% rise in EPS to 12.23p on the back of a 43% growth in gross premiums written. The Board declared an implicitly repeatable dividend of 1.5p and a special dividend of 3.6p, based on the profit for 2014 that may not recur in 2015.
Also news from Randall & Quilter, (RQIH), who must be in the running for deal of the week with their acquisition (subject to regulatory approval) of IC Insurance, formerly the captive insurer for Imperial Chemical Industries.
Brewin Dolphin (BRW) reported Interim results recently, which did not meet over-optimistic expectations in the market. The sharp rise in IFRS pre-tax profits (up 73% to £37.9m) and EPS (up 62% to 11.2p) was largely down to a swing from debits to credits in non-trading items – mostly a £9.7m gain on selling its holding in Euroclear, but including a £1.2m refund of an excessive prior year FSCS levy – while revenue grew only 1.4% and Headline pre-tax by 8.9%.
Finally strong results from BP Marsh, (BPM) greeted by the market with a modest rise in the share price, reducing the discount to NAV from 35% to 28%. Pre-tax profit rose 45% to £5.9m, EPS rose 28.8% to 16.89p, the dividend was maintained at 2.75p, as forecast following the sale of the bulk of their holding in Hyperion.

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