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Company News

2007

Interim results for the six months to 30 June 2007

31/07/2007

NEW BUSINESS UP 33% AND OPERATING PROFIT UP 50%

Highlights of the interim results for the half year to 30 June 2007:

New business:

  • Total new business of £213.5 million (on an APE basis) up 33%

Profit – EEV basis:

  • Group operating profit at £120.7 million (2006: £80.3 million) up 50%
  • New business profits of £71.5 million (2006: £51.5 million) up 39%
  • Net asset value per share 239.6 pence (2006: 196.5 pence) up 22% over the twelve months
– IFRS basis:
  • Profit before shareholder tax of £19.9 million (2006: £43.3 million)
  • Net asset value per share 83.0 pence (2006: 68.1 pence) up 22% over the twelve months

Interim Dividend:

  • Interim dividend increased to 1.75 pence per share up 17%

Funds Under Management:

  • Funds under management increased to £17.3 billion since the start of the year up 12%

St. James’s Place Partnership at 1,187 up 2.6% since the start of the year.

Mike Wilson, Chairman, commented:

“We are delighted to report that the substantial growth in new business and profits over the last three years has continued in the first half of 2007.

“We are particularly pleased that total new single premiums were some £500 million higher for the first six months this year than in 2006, and increased by 41% from £1.18 billion to £1.67 billion.

“Although we face much stronger new business comparatives for the remainder of the year, as a result of the strong first half new business performance, the Board now expects (subject to no major change in circumstances), new business growth for the year to be at the top end of our longer term objective of 15 – 20% growth per annum.”

Enquiries:

Mike Wilson, Chairman Tel: 020 7514 1985
Andrew Croft, Group Finance Director Tel: 020 7514 1985
Brunswick Tel: 020 7404 5959

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