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Interim Results

Standard Life lifts divi as assets and profits rise

08 August 2017 07:43

Standard Life's (SL.) operating profit before tax rose by 6% to £362 million in the first half, with a 5% increase in fee-based revenue to £836 million.

The profit for the period attributable to equity holders increased by 29% to £292 million.

Assets under administration edged 1% higher to £361.9 billion. Gross inflows rose from £21.8 billion to £20.7 billion but redemptions increased to £24.4 billion from £20.9 billion, resulting in net outflows of £3.7 billion.

Standard Life increased its dividend by 8.2% to 7p per share.

The company's proposed merger with Aberdeen Asset Management is expected to be effective on 14 August 2017.

Keith Skeoch, chief executive, said: "We continue to see the benefits of targeted investments to further our diversification agenda, the success of our newer investment solutions and the ongoing focus on operational efficiency. This has allowed us to grow assets, profits, cash flows and returns to shareholders."

Story provided by StockMarketWire.com

Related Company: SL.

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