August 30, 2018 / 6:44 AM / 3 months ago

Chesnara's H1 profit halves on Scildon effects

Aug 30 (Reuters) - Pension and life insurance administrator Chesnara Plc’s profit before tax halved year-on-year in the six months to June, the company said on Thursday, saying its Scildon business had been hurt by losses on Italian bonds.

The fall in profit was just 14 percent when accounting for a 20.7 million pound gain the company said it made on the acquisition of Scildon a year ago.

$1 = 0.7677 pounds Reporting by Noor Zainab Hussain and Sangameswaran S in Bengaluru

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