Hastings profit up as revenue increases

Hastings Group Holdings PLC (HSTG.LN) said Wednesday that first-half pretax profit increased 26% as net revenue rose on earned premium growth.

The insurance provider said profit before tax for the six months ended June 30 was 86.8 million pounds ($112.4 million) compared with GBP68.9 million the previous year. Net revenue rose 9% to GBP376.3 million.

The company attributed the revenue growth to increases in earned premiums and broking revenue.

Hastings declared an interim dividend of 4.5 pence a share, up from 4.1 pence a share in the first half of 2017.

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