Cash generation gathering pace at Phoenix

Phoenix Group, the zombie insurance fund consolidation company, is on course to deliver on its stated targets for 2012 after what it hailed as a solid financial performance in the first quarter.

Phoenix Group, the zombie insurance fund consolidation company, is on course to deliver on its stated targets for 2012 after what it hailed as a solid financial performance in the first quarter.

The group, which is aiming to generate between £500m and £600m of cash this year, generated £100m of the green and folding stuff in the year up to and including May 4th, leaving it some work to do to hit those targets. However, the group has indicated that performance in this regard will be weighted to the second half of the year.

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