LONDON (dpa-AFX) - Standard Life PLC (SL.L, SDLF.L), a British life assurance, pensions, and long-term savings company, on Monday reported a wider pre-tax loss for the first half of fiscal 2026.
For the six-month period to June 30, the company posted a pre-tax loss of GBP 272 million, compared with a loss of GBP 209 million in the same period last year. Net loss stood at GBP 179 million as against a loss of GBP 156 million a year ago.
The loss was mainly due to the adverse hedging-related economic variances, primarily from equity markets in the period.
Economic variances were negative GBP 473 million, compared with negative 275 million last year. Profit before economics, tax, and NCI surged to GBP 191 million from GBP 54 million in the previous year.
Adjusted operating profit moved up to GBP 563 million from last year's GBP 451 million. Pensions and savings were GBP 244 million, higher than GBP 179 million a year ago. Retirement solutions also moved up to GBP 324 million from GBP 286 million in the previous year. 'These performance improvements were driven by business expansion, cost savings and higher trading profits, reflecting the successful delivery of our Grow, Optimise and Enhance strategic priorities,' the company noted.
Standard Life will pay an interim dividend of 28.05 pence per share on October 29 to the shareholders of record as of September 25.
Looking ahead, for fiscal 2026, the Group said that it is on track to achieve adjusted operating profit of around GBP 1.1 billion, higher than GBP 945 million in fiscal 2025.
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