Overview
- Core operating profit rose 6% to about £1.6 billion (reported at £1.62 billion), slightly below the roughly £1.65 billion analyst consensus.
- The company launched its largest-ever £1.2 billion share repurchase and lifted the dividend about 2%, guiding for £2.4 billion of returns over the next year and more than £5 billion across 2025–2027.
- The stock fell around 5.5% to roughly 244p in early trading after the results underwhelmed against expectations.
- Institutional retirement secured £11.8 billion of pension risk transfer deals globally, including £10.4 billion in the UK, with management citing a healthy pipeline.
- Assets under management were about £1.2 trillion as private markets grew 32% to £75 billion, and workplace DC assets rose 21% to £114 billion, with confidence in a £500m–£600m asset‑management profit target by 2028.