LONDON (dpa-AFX) - M&G plc (MNG.L) reported first half IFRS loss after tax of 165 million pounds compared to profit of 248 million pounds, prior year. The company said its result was impacted by 551 million pounds of adverse short-term fluctuations in investment returns. Adjusted operating profit before tax was 435 million pounds compared to 378 million pounds, last year, 15% higher, driven by 24% growth in the Asset Management contribution and 9% growth in Life. The Group achieved net inflows from open business of 2.4 billion pounds.
Looking forward, the Group said it is on track to meet the target of 2.7 billion pounds cumulative Operating Capital Generation excluding new business strain over 2025-2027.
At last close on LSE, M&G shares were trading at 342.50 pence, down 1.01%.
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