Home / profit / Legal and public profit rises 32% in 2017

Legal and public profit rises 32% in 2017

collected by :Victor Alphen

Legal and public Group PLC (LGEN.LN) told Wednesday which its profit rose in 2017 and which it received a one-off boost from united states tax changes.
Operating profit for the year rose 32% to 2.06 bn pounds ($2.86 billion), the asset management and insurance Corporation said.
The major driver of the profit development was a 54% promote in operating profit from L&G’s retirement unit, to GBP1.25 billion.
L&G told it too received a GBP246 mn one-off tax benefit from recent unite states tax changes, because of the revaluation of deferred liabilities.
This brings its total dividend of 2017 to 15.35 pence a share, up 7% from 2016.

Legal and public toasts record full-year profit

Insurer Legal and puplic has announced record annual profits, helped with changes in life expectancy averages and a powerful performance in its retirement division.
Insurer Legal and puplic has announced record annual profits, helped with changes in life expectancy averages and a powerful performance in its retirement division.
Boss Nigel Wilson said: “Legal and General’s strategic focus, alignment to universal development drivers and excellent execution allowed America to deliver a record £2.1 bn operating profit in 2017.
L&G’s investment arm saw record external internet inflows of £43.5 billion, that drove operating profit up 9% to £400 million.
But public insurance posted a 29% fall in operating profit to £37 million, because of higher than foreseen “non-weather linked household claims” in the 1st quarter of 2017.

 

Legal
Legal

 

Legal and public earnings: complete year operating profit wins forecast, up 32 percent

as mentioned in British insurer Legal and puplic announced an above-forecast 32 % height in 2017 operating profit of 2.1 bn pounds ($2.92 billion), it told on Wednesday, helped with spare releases linked to changing longevity expectations.
Analysts in a company-supplied consensus poll had prediction operating profit of 1.9 bn pounds.
Net launch from continuing operations – or internet cash generated – rose nine % to 1.35 bn pounds.
Legal and puplic Investment Management, 1 of the largest Businessmen in the Britain stock market, saw assets under management height ten % to 983 bn pounds.
L&G told it would pay a total dividend of 15.35 pence per share, up seven % and against a prediction 15.31 pence.

Check Also

Commerzbank profit

Commerzbank profit rises in spite of discounts slump

Commerzbank profit rises in spite of discounts slump. As declared in Commerzbank adjutant puplic (CBK.XE) told …