Operating profits indicate a strong performance regardless of new business fall as Royal London debuts interim results.

From: Financial Advisor | Date: October 5, 2006 | Copyright information

Interim operating profits for Royal London before tax were AGBP108m and profit from the new business written was AGBP22m.

This compared with profit from new business of AGBP37m in the previous year when operating profits of AGBP88m were also recorded. It is the first time Royal London has produced interim results.

Mike Yardley, group chief executive of Royal London, said a mutual is not subject to the same reporting requirements in this regard as a Plc. He said: "We decided to publish these results for the benefit of our members. We remain focused on writing profitable ...

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