Life assurance firm Standard Life delivered an increase in operating profits and cash flow in 2011 against an uncertain economic backdrop.
Total income in 2011 rose to £1,579m from £1,501m the year before, while operating profit before tax from continuing operations climbed to £544m from £425m the year before.
Group assets under administration rose to £198.4bn by the end of the year from £192.9bn at the end of 2010.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"While the economic backdrop remains uncertain, we are confident that the strong capital position of the group, the demand for our attractive customer propositions and the continued improvements in operational and capital efficiency mean that we are well on track to achieve an ongoing improvement in financial performance," said Standard Life's Chief Executive, David Nish.
The final dividend has been bumped up 6.4% to 9.20p, resulting in a total dividend for 2011 of 13.80p, up 6.2% on 2010.
More to follow ...
jh
-
Young workers exiting UK over tax and economic outlook concerns, warn wealth managersYoung professionals are scoping out cities and countries with lower tax burdens and a greater quality of life, according to wealth managers
-
Savers tell Reeves: we'll snub stocks and shares ISAs even if cash limit is cutChancellor Rachel Reeves could find her rumoured plans to get Britain investing in UK Plc by cutting the cash ISA limit backfire as most savers have said they still wouldn’t switch to stocks and shares if she goes ahead with the move
