Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

£100m court win to boost Standard Life's bottom line

£100m court win to boost Standard Life's bottom line

Standard Life investors are set to reap the benefits of its £100 million court win against indemnity insurers.

According to Panmure Gordon, Standard Life should see its operating profit and operating earnings per share boosted by around 16% to £841 million, and to around 33.9p per share, up 71%, on the back of last year's victory over insurance provided to its Standard Life Pension Sterling fund.

The insurer and asset manager is due to report its full year results for 2012 on March 7, the same day as Aviva.

Markets will be eyeing both reports closely given Standard Life's successful growth in recent months and Aviva's restructuring and strategy of streamlining the business.

Panmure said that ahead of the results it believes shares in Standard Life are a 'buy', even though they enjoyed a strong run in 2012.

'Despite the strong share price performance in 2012 we believe the valuation remains attractive and that there is still further upside,' analyst Barrie Cornes explained.

Standard Life's shares traded at 338.7p at 9.45 am today, versus its 52-week peak of 356p per share.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: Rathbone's Newcastle boss on the road to £1bn

Profile: Rathbone's Newcastle boss on the road to £1bn

Starting from zero assets on day one, Rathbone's Newcastle team now looks after just over £400 million in clients money

Wealth Manager on Twitter