A year of improvement
Much has changed since I wrote to shareholders in September 2009. At that time, capital markets were turbulent, economies were contracting and the implications of the “credit crunch” were still very much in force. It is clear that today we are beginning to see a real turnaround position (read more).
An increase in gross revenues of 6.7% to £458m
Operating profits rise from £58m to £78m, a 34% increase
Profit before tax increases by 25% to £65m
Our business model has shown resilience in an uncertain market. Total sales increased by almost 13% to £63 million while Value of New Business after tax was £12.0 million, up 1.9% on the previous 12 months. Underlying operating EEV profit before tax was up 1.2% at £5.8 million. This result highlights the robust nature of the Group’s business model (read more).
Chairman's
Statement
Chief Executive's Report
