LONDON (dpa-AFX) - Aviva plc (AV.L, AV), on Thursday, reported a 6-month IFRS loss of £198 million compared to a profit of £874 million last year. On a per share basis, loss was 6.2p versus a profit of 20.0p earned a year ago.
The company's operating profit was £825 million or 21.0p per share compared to £917 million or 23.4p per share in the prior year period.
Aviva Investors revenue increased 7% to £192 million from £180 million generated a year ago.
In a separate press release, the company said it would commence commence a share buyback programme of its ordinary shares for up to a maximum aggregate consideration of £750 million, commencing on 13 August 2021.
Aviva has entered into a non-discretionary agreement with Citigroup Global Markets Ltd to conduct the Programme on its behalf and to make trading decisions under the Programme independently of Aviva.
Shares acquired by Citi under the agreement would be sold on to Aviva and, to the extent permitted by law, such purchased shares would be cancelled. The purpose of the Programme is therefore to reduce Aviva's share capital. The maximum number of shares to be acquired under the Programme is 300 million and the Programme is expected to complete by 17 February 2022.
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