Standard Life profits up 6% in 'challenging' conditions

This includes the hit the group took from its £102m injection into its Pension Sterling fund. Excluding this, profits would have risen by 18% on the same basis. In the UK, profits rose from £606m to £657m over the year. However, sales fell in key areas including pensions, savings and investments. Total sales (on a PVNBP basis) for life and pensions were down 11% to £11,928 m from £13,440m in 2007. Individual pensions sales including SIPPs fell 18% to £3,719m although the number of SIPP customers was increased by over 19,000. Group pension sales dropped 8% to £2,600m. Meanwhile, savings ...