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Daily Insurance Industry News
Monday 15th of October 2018
August 10, 2011

Standard Life reports rising biannual profits

by Richard Kilner

Story link: Standard Life reports rising biannual profits

Standard Life reports rising biannual profits

Standard Life has reported its interim financial results, covering the first six months of 2011, including an IFRS pre-tax operating profit of £262m.

This is 44% better than the corresponding period last year when the firm made £182m, and suggests the firm may be on course to beat its 2010 annual result of £425m.

Profits after tax were up by £17m, from £182m to £199m.

Group assets under administration increased from £196.8bn at the end of 2010 to £200bn at the end of the first half of 2011.

Chief Executive David Nish said that the firm’s results showed it was back on track, and welcomed the increase in assets under management and the 44% rise in pre-tax operating profits.

Nish added that the firm was investing to bolster its market positions and said that Standard Life was competitively positioned for the future.

 

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