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BRIEF-Legal & General FY adjusted operating profit rises 11 pct
March 8, 2017 / 7:13 AM / 9 months ago

BRIEF-Legal & General FY adjusted operating profit rises 11 pct

March 8 (Reuters) - Legal & General Group Plc

* Fy pretax profit rose 17 percent to 1.6 billion stg

* Eps 1 up 19% to 22.2p, profit before tax 2 up 17% to £1.6bn

* Net release from operations (net cash) 4 up 12% to £1,411m (2015: £1,256m)

* Adjusted operating profit 5 up 11% to £1,628m (2015: £1,463m)

* Profit after tax up 16% to £1,265m (2015: £1,094m)

* Earnings per share up 17% to 21.22p (2015: 18.16p)

* Full year dividend up 7% to 14.35p per share (2015: 13.40p)

* Adjusted return on equity 6 19.6% (2015: 17.7%)

* Solvency ii coverage ratio of 171% (2015: 176%), shareholder basis 7

* Lgr new business of £8.5bn (2015: £2.9bn)

* Lgr annuity assets up 25% at £54.4bn (2015: £43.4bn)

* Lgim aum up 20% at £894.2bn (2015: £746.1bn)

* Our core markets are growing, our market share is increasing, our balance sheet is strong

* Currently quoting on c.£13bn of buy-in and buy-out deals in uk

* Lifetime mortgage market is expected to grow to £2.8bn in 2017 and we anticipate writing c.£0.8bn of new business in year

* Lgim total net flows (£bn) 31.2 Source text for Eikon: Further company coverage:

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