Hansard Global plc announced that the external global environment and the ability for Independent Financial Advisor distribution channel to grow new long-term savings business continues to be challenging as Covid-19 related restrictions and economic confidence fluctuate. Therefore the company expects IFA sales for 2022 to be lower than 2021 but note that will not have a material impact to profit under International Financial Reporting Standards. This is because initial income and origination costs are deferred at point of sale and recognised over the lifetime of contracts sold.

The £1.0 million impact to IFRS profit from provisions against fees and other receivables is not expected to be made up elsewhere in second half of financial year and if no related recovery is achieved prior to 30 June 2022, the company expects full year profit to be lower than planned by that amount. The provision does not otherwise reflect on expectations for future trading results.