Phoenix plans further acquisitions as profits up

In its first interim results since acquiring Pearl assets in September 2000, Phoenix says profits are up £146m on the same period last year, while cashflows to its holding companies reached £335m. Assets under management of £69bn were up 3% since 31 December 2009, with £800m of net new third party business It also reported Ignis Asset Management IFRS operating profits were £22m, up 38% on the pro forma comparative period. Having successfully completed its premium listing on the LSE in July, Phoenix said it expects to enter the FTSE 250 Index in September. It also announced a propos...