Advertisement
UK markets closed
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • CRUDE OIL

    82.78
    +1.43 (+1.76%)
     
  • GOLD FUTURES

    2,239.00
    +26.30 (+1.19%)
     
  • DOW

    39,752.51
    -7.57 (-0.02%)
     
  • Bitcoin GBP

    55,973.28
    +1,198.45 (+2.19%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    16,373.81
    -25.71 (-0.16%)
     
  • UK FTSE All Share

    4,338.05
    +12.12 (+0.28%)
     

Legal & General FY operating profit beats forecast, up 32 pct

LONDON, March 7 (Reuters) - British insurer Legal & General (LSE: LGEN.L - news) reported an above-forecast 32 percent rise in 2017 operating profit of 2.1 billion pounds ($2.92 billion), it said on Wednesday, helped by reserve releases related to changing longevity expectations.

Analysts in a company-supplied consensus poll had forecast operating profit of 1.9 billion pounds. The results included a mortality release of 332 million pounds, L&G said in a statement.

Net (LSE: 0LN0.L - news) release from continuing operations - or net cash generated - rose 9 percent to 1.35 billion pounds.

Legal & General Investment Management, one of the largest investors in the UK stock market, saw assets under management rise 10 percent to 983 billion pounds.

L&G said it would pay a total dividend of 15.35 pence per share, up 7 percent and against a forecast 15.31 pence. ($1 = 0.7196 pounds) (Reporting by Carolyn Cohn; editing by Simon Jessop)