Standard Life profit lifted by savers and markets
LONDON Aug 8 (Reuters) - Standard Life PLC posted a 6 percent rise in first half operating profits, boosted by stronger financial markets and rising demand for its savings and investment products.
Operating profit was 304 million pounds, the group said in an earnings statement on Thursday.
Assets under administration rose 7 percent over the period to 232.8 billion pounds while the fund management arm Standard Life Investments achieved a 13 percent increase in third party assets.
Assets were lifted by "robust" net flows of new money to fee-based products and strengthening financial markets, Standard Life said.
"We look forward to the future as our business model, propositions, distribution capability and strong balance sheet mean we are confident we can deliver ongoing improvements in value for our customers and shareholders," Chief Executive David Nish said.