Standard Life on track

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.

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"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 ...

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