Nigel Wilson, Group Chief Executive, said:
"These results evidence the quality of our model. We have delivered operating profit of £518m, profit before tax of £525m, operational cash of £471m and increased earnings per share by 14%, to 6.96p. Our confidence in the sustainability of Legal & General's performance has enabled us to progress the interim dividend to 1.96p, an increase of 18%.
"Our financial and strategic discipline creates confidence in complex and chaotic markets. In spite of economic conditions, we continue to grow. LGIM achieved strong net flows of £4bn, UK protection gross premiums grew by 9% to £672m, and we also achieved 13% growth in US gross premiums to $456m.
"We have strong businesses, and social and economic challenges bring opportunities which we intend to pursue at a faster pace. We maintain shareholder assets of over £6bn, and a strong capital surplus of £3.8bn. Our balance sheet strength and robust financial discipline provides Legal & General with options to accelerate our evolution, delivering further value for customers and shareholders."
|
Financials Pence per share |
H1 2012 |
H1 2011 |
|
IFRS earnings per share (basic) |
6.96 |
6.13 |
|
Operating profit earnings after tax per share (basic) |
6.72 |
6.30 |
|
Operational cash generation per share |
8.08 |
8.18 |
|
Net cash generation per share |
6.98 |
6.97 |
|
Interim dividend per share |
1.96 |
1.66 |
|
Average number of shares (m) |
5,832 |
5,828 |
