Legal & General boosted profit and revenue in the first half of 2019, as it said the UK represents an "enormous opportunity" for its growing pensions market. The insurer saw profit before tax rise 12 per cent year-on-year to hit £1bn in the six months to June, it reported yesterday. Operating profit rose 11 per cent to £1bn, up from 2018's £909m. Group debt rose by £11m to £108m on total borrowings of £4.1bn, up £200m from the first half of last year. Legal & General marginally raised its interim dividend to 4.9p per share. Chief executive Nigel Wilson said: "We have a depth of management, track record and opportunities that mean all five of our businesses should contribute to future growth."
(c) 2019 City A.M., source Newspaper