LONDON (dpa-AFX) - Legal & General Group Plc (LGEN.L) reported Wednesday that its fiscal 2020 profit before tax attributable to equity holders declined 15 percent to 1.79 billion pounds from 2.11 billion pounds last year.
Profit after tax attributable to equity holders was 1.61 billion pounds, down 12 percent from 1.83 billion pounds a year ago.
Earnings per share were 27 pence, 13 percent lower than 30.92 pence last year.
Profit after tax excluding mortality reserve release and disposals was 1.18 billion pounds, compared to 1.70 billion pounds last year. Earnings per share excluding mortality reserve release and Mature Savings disposal was 19.84 pence, compared to 28.66 pence last year.
Operating profit dropped 3 percent from last year to 2.22 billion pounds, with 3 of 5 businesses delivering growth.
Adjusted operating profit was 2.04 billion pounds, down from 2.13 billion pounds a year ago.
Further, the company announced full year dividend of 17.57p per share, same as last year.
Looking ahead, the company said it remains confident of making further progress in 2021.
Further, medium term growth ambitions over the period 2020-2024 unchanged. Earnings per share is expected to grow faster than dividends, with the dividend growing at low to mid-single digits from 2021.
Copyright RTT News/dpa-AFX
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