Standard Life UK profits down 5%; Sales up 20%

Pre-tax profits on an IFRS basis were £76m, down from £80m for H1 2009. Overall, the group reported operating profits (IFRS basis) rose 10% to £182m in the first half of the year, helped by the international parts of the business. Standard Life has proposed an interim dividend of 4.35p per share, up 4.8% from 4.15p in 2009. In the UK, retail net flows improved to a net outflow of £404m, compared to £.1bn in 2009, driven by strong SIPP and mutual funds sales. This was led by £1.1bn in net flows for the company's individual SIPP business. However, this was offset by increased outflow...