I hold shares in Hargreaves Lansdown. I noted that they have delayed the XD/Pay dates quite considerably.
viewtopic.php?p=615830#p615830
Phoenix Group delayed their dates by ~ a month and a half (pay date 12th septemebr in 2022, now moved out to 23 October in 2023).
These are quite significant movements. Are the new accounting rules causing these delays (why?) or are the companies just using it to hold onto cash for longer?
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Another Late Delivery! ( PHNX Group and now HL)
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Re: Another Late Delivery! ( PHNX Group and now HL)
monabri wrote:are the new accounting rules causing these delays (why?)
One might speculate that they are finding it time consuming to implement the new rules and have them signed off.
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Re: Another Late Delivery! ( PHNX Group and now HL)
Alaric wrote:monabri wrote:are the new accounting rules causing these delays (why?)
One might speculate that they are finding it time consuming to implement the new rules and have them signed off.
On the face of it that seems to be the case as they said in their half year statement that the IFRS 17 statements will be published only on 23 September I think it was. Incorporating the IFRS statements into the half year figures may well have delayed things although Legal and General seem to have managed to take things in their stride.
Not the end of the world but the delay is annoying because just as it is helping their cash flow it is not helping shareholders’.
Dod
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Re: Another Late Delivery! ( PHNX Group and now HL)
Dod101 wrote:. Incorporating the IFRS statements into the half year figures may well have delayed things although Legal and General seem to have managed to take things in their stride.
Phoenix grew by buying out any number of closed funds with the idea of taking profits by way of releasing capital and extracting charges and fees. That contrasts with L&G who have grown by writing more business, particularly bulk annuities.
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Re: Another Late Delivery! ( PHNX Group and now HL)
Alaric wrote:Dod101 wrote:. Incorporating the IFRS statements into the half year figures may well have delayed things although Legal and General seem to have managed to take things in their stride.
Phoenix grew by buying out any number of closed funds with the idea of taking profits by way of releasing capital and extracting charges and fees. That contrasts with L&G who have grown by writing more business, particularly bulk annuities.
I am well aware of that. And your point is?
Dod
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Re: Another Late Delivery! ( PHNX Group and now HL)
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