Only retirement income sales climb to £ 900million but fail to win investor confidence

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Financial services group Just has seen its retirement income sales soar to £ 909million in the past six months, up 22% from the first half of last year.

The group posted adjusted operating profit of £ 90million in the six-month period ended June 30, up 47% from the same period in 2020.

However, after opening higher this morning, the group’s shares fell more than 6% in its afternoon trading, to 99.5 pence per share.

The group’s stock market performance today suggests that its financial update has failed to build investor confidence.

But CEO David Richardson said, “New business premiums, operating profits and underlying capital generation have improved significantly from the previous year. “

The head of financial services explained that the “fundamental drivers” of its main markets are strong, which supported the outlook for the group for the rest of the year.

“We are confident in our outlook as we ensure sustainable and profitable growth across the group,” he said, adding that Just had set himself the goal of being carbon neutral by 2025 .

The group’s investments are also expected to be carbon neutral by 2050, he said in a statement, as environmental, social and governance factors are increasingly important to both consumers and investors. .




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