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Daily Insurance Industry News
Monday 28th of May 2018
March 14, 2012

Legal & General reports strong 2011 results

by Richard Kilner

Story link: Legal & General reports strong 2011 results

Legal & General has reported its financial results for 2011, including an IFRS pre-tax profit of £956m (down from the £1,092m of 2010).

However, the firm’s operating profit increased to £1,056m from £1,002m, and worldwide sales rose by 7%, year-on-year, to £1.9bn APE.

Legal & General also increased its dividend by 35%, from 4.75p per share in 2010 to 6.40p per share.

The firm’s EEV operating profit was recorded at £1,469m, significantly better than the £1,224m of last year, with EEV per share rising by 11% from 132p to 147p.

However, the IFRS return on equity declined from 18.2% in 2010 to 14.5%.

Group Chief Executive Tim Breedon said that the firm had enjoyed a strong 2011, with all four divisions (Risk, Savings, Investment management and International) achieving increased sales and profitability.

 

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