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    JRP   GB00BCRX1J15

JUST GROUP PLC

(JRP)
  Report
Delayed London Stock Exchange  -  11:35 2022-10-07 am EDT
63.80 GBX   -1.77%
08/30Barclays Trims Just Group PT, Keeps Overweight Rating
MT
08/09Transcript : Just Group plc, H1 2022 Earnings Call, Aug 09, 2022
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08/09Just Group Confirms Medium-term Growth Target After Larger Loss in H1
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Just Group reports rise in underlying profit, pays dividend

08/09/2022 | 02:47am EDT
Illustration shows a smartphone with displayed Just Group logo

LONDON (Reuters) - British specialist insurer Just Group posted a 15% rise in first half underlying operating profit to 74 million pounds ($89.42 million) on Tuesday, as it restored an interim dividend of 0.5 pence per share.

Many insurers scrapped dividends at the start of the COVID-19 pandemic in 2020, following pressure from regulators.

Just Group reinstated its dividend in March after reporting a 9% jump in annual profit.

"Following our strong H1 22, we have increased confidence of delivering 15% growth in underlying operating profit per annum, on average over the medium term," said David Richardson, group Chief Executive Officer of Just Group, which provides annuities for people with reduced life expectancy.

Just Group completed its largest bulk annuity transaction last month, totalling 500 million pounds, for an unnamed pension scheme.

In a bulk annuity deal, an insurer takes on pension payments for some or all of the members of a company defined benefit - or final salary - pension scheme.

Just Group said its increased confidence in meeting growth targets was due to a record pipeline of over five billion pounds in defined benefit scheme sales growth for this year and beyond.

It reported a capital coverage ratio, a key metric of solvency for insurers, of 184%, from 164% in December last year.

The company also reported a 226 million pound loss after tax, partly driven by the rise in interest rates, compared with a loss of 70 million pounds in the first half of 2021.

($1 = 0.8275 pounds)

(Reporting by Huw Jones and Carolyn Cohn, editing by Sinead Cruise)


© Reuters 2022
All news about JUST GROUP PLC
08/30Barclays Trims Just Group PT, Keeps Overweight Rating
MT
08/09Transcript : Just Group plc, H1 2022 Earnings Call, Aug 09, 2022
CI
08/09Just Group Confirms Medium-term Growth Target After Larger Loss in H1
MT
08/09Just Group reports rise in underlying profit, pays dividend
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08/09Just Group plc Declares Interim Dividend for the Six Months Ended 30 June 2022, Payable..
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08/09Just Group plc Reports Earnings Results for the Half Year Ended June 30, 2022
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07/18British Financial Services Company Just Group Completes Full Scheme Buy-in
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06/09Transcript : Just Group plc - Special Call
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05/10Just Group plc Approves Final Dividend for the Year Ended 31 December 2021
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04/04Barclays Boosts Just Group To Overweight From Equal-weight, Lifts PT
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Analyst Recommendations on JUST GROUP PLC
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Financials
Sales 2022 3 241 M 3 604 M 3 604 M
Net income 2022 -116 M -129 M -129 M
Net Debt 2022 1 878 M 2 089 M 2 089 M
P/E ratio 2022 -5,01x
Yield 2022 2,37%
Capitalization 663 M 737 M 737 M
EV / Sales 2022 0,78x
EV / Sales 2023 0,69x
Nbr of Employees 1 037
Free-Float 98,6%
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Technical analysis trends JUST GROUP PLC
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 63,80 GBX
Average target price 114,71 GBX
Spread / Average Target 79,8%
EPS Revisions
Managers and Directors
David Louis Richardson Group Chief Executive Officer & Executive Director
Andrew Mark Parsons Group Chief Financial Officer & Executive Director
John Peter Hastings-Bass Group Non-Executive Chairman
Giles Offen Group Chief Digital Information Officer
Paul Fulcher Group Executive-Capital Management & Investment
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