Shares in asset manager Legal & General (LON:LGEN) edged up on Wednesday, after reported profit before tax rose 32 percent over the course of 2017.
Profit rose to £2.1 billion in 2017, up from £1.6 billion the year before, after a “strong performance” across the board led to a boost to the group’s retirement institutional and retail divisions.
The company pleased investors with a full year dividend of 15.35 pence per share, an increase of 7 percent on the previous 12 months, with the group setting out a goal to keep the same level of performance achieved between 2011 and 2015, where there was EPS growth of 10 percent per annum, until 2020.
Nigel Wilson, Legal & General’s Chief Executive, said:
“Legal & General’s strategic focus, alignment to global growth drivers and excellent execution, allowed us to deliver a record £2.1 billion operating profit in 2017.
“Our shareholders are enjoying terrific EPS and RoE growth, while our ‘inclusive capitalism’ model ensures customers and society also benefit.
“We remain confident that our unique business model, strong management team, collaborative culture, and strategic focus can deliver further growth in 2018 and beyond.”
Shares in Legal & General (LON:LGEN) are currently up 0.84 percent at 259.98 (0822GMT).
