LONDON (dpa-AFX) - Legal & General Group Plc (LGEN.L) reported Wednesday higher profit and insurance revenues in its first half.
Looking ahead, for the second half, the company projects positive commercial momentum in each of its three businesses. The firm is on track to deliver fiscal 2025 core operating earnings per share growth of 6 percent to 9 percent.
On the London Stock Echange, Legal & General shares were losing around 3.5 percent to trade at 252.43 pence.
António Simões, CEO, said, 'The outlook for our businesses is positive and we are firmly on track to achieve our financial targets. We are delivering on our promise to return more to shareholders with over £5bn in dividends and share buybacks over three years.'
In the first half, profit before tax was 476 million pounds, compared to 441 million pounds last year.
Adjusted profit before tax attributable to equity holders was 406 million euros, compared to 316 million euros a year ago.
Earnings per share climbed to 5.15 pence from prior year's 3.55 pence. Core operating earnings per share were 10.94 pence, up from last year's 10.07 pence.
Insurance revenue for the period grew to 4.52 billion pounds from 4.17 billion pounds in the prior year.
Further, the company announced interim dividend per share of 6.12 pence, a growth of 2 percent from last year, and in line with guidance. The dividend is paybale on September 26 with record date of August 22.
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