Sept 6 (Reuters) - British pensions provider Just Group Plc posted an 85.1 percent jump in first-half adjusted operating profit on Thursday, but said it was delaying issuing a dividend due to the threat to its finances from proposed changes around lifetime mortgages.
Rules put out for consultation in July by Britain’s Prudential Regulation Authority would require Just and its rivals to set aside more capital to protect against the risks posed by mortgages, chiefly that house prices could fall.
Just Group said it would defer dividends until it had a better clarity on its capital position under the proposed rules.
The company said adjusted operating profit rose to 124.4 million pounds ($160.49 million), for the six months ended June 30, from 67.2 million pounds a year earlier, helped by demand for its retirement products as companies look to offload pension liabilities. ($1 = 0.7751 pounds) (Reporting by Muvija M and Noor Zainab Hussain in Bengaluru; editing by Patrick Graham)