LONDON (dpa-AFX) - M&G Plc (MNG.L), a British investment manager, on Wednesday reported higher pre-tax income for the first half while also registering higher revenue.
For the six-month period to June 30, the firm posted a pre-tax income of 209 million pounds, higher than restated 128 million pounds, registered for the same period last year.
Tax charge attributable to policyholders' returns climbed to 266 million pounds from previous year's restated 27 million pounds. Thus, loss before tax attributable to equity holders was 57 million pounds, compared with a restated profit of 101 million a year ago.
Net loss stood at 62 million pounds or 2.6 pence per share as against last year's restated profit of 68 million pounds or 2.9 pence per share.
Adjusted operating profit before tax stood at 375 million pounds, lower than restated 390 million pounds last year.
Net insurance and investment result slipped to 766 million pounds from restated 780 million pounds a year ago.
Investment return surged to 4.474 billion pounds from restated 1.138 billion pounds a year ago.
Insurance service result was 538 million pounds, up from last year's restated 334 million pounds.
Insurance revenue improved to 1.978 billion pounds from restated 1.834 billion pounds in 2023.
The Board will pay an interim dividend of 6.6 pence per share on October 18 to shareholders of record on September 13.
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