Friends Prov profits up 7%, but 2008 target to take longer

In its interim results released to the stock exchange this morning, Friends Prov also revealed a 12% jump in total life and pensions sales – from £2.02bn in 2006, to £2.26bn. Group pensions sales were up 11% to £1.3bn while international sales jumped 16% to £1.17bn. Its interim dividend per share for the period was up 5p, to 2.7p. Friends Provident group chief executive Philip Moore says the group’s financial position “remains robust” with capital resources exceeding requirements by approximately £1bn. But he added the group’s solid UK position is tempered by a moderate protection marke...