Phoenix unveils strong results underpinned by solid cash generation

FTSE 250-listed closed life fund consolidator Phoenix Group has unveiled strong results for the financial year ended December 31st underpinned by solid cash generation from its operating companies.

FTSE 250-listed closed life fund consolidator Phoenix Group has unveiled strong results for the financial year ended December 31st underpinned by solid cash generation from its operating companies.

The group's operating companies' cash generation was valued at £690m, compared to £810m, at the upper end of the £600-to-£700m target range and £1.1bn of cash was recorded at the group's holding companies as of December 31st. This compared to £837m in 2011.

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