Standard Life’s H1 profits on the rise

Standard Life’s H1 profits on the rise

Standard Life has reported its financial results for the first six months of 2012, during which the firm made pre-tax operating profits of £302m.

This is a 15% rise compared to the corresponding period last year when the firm made £262m.

IFRS profits after tax (attributable to equity holders) for the first six months of 2012 were £254m, a 28% rise on the £199m of H1 2011.

Group assets under administration increased from £198.4bn (at the end of 2011) to £204.2bn, and the interim dividend rose 6.5% to 4.9p.

Chief Executive David Nish said that the firm’s biannual results showed that Standard Life was performing well with increased profits, cash flow and dividends.

Nish went on to say that the insurance industry was undergoing a period of significant change which would also bring opportunity.

He concluded that the firm was well-prepared for the market and regulatory changes ahead and was well-placed to meet the needs of customers.

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Category: Financials, Insurance News, Standard Life News