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
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter