Phoenix Group revenues hit £496m in H1 2011

This translates to a group operating profit of £136m, and Phoenix expects to pay interim dividends of 21p per share. The group, which holds £68.5bn in assets under management, aims to hit cash generation of between £750m and £850m by the end of the year. Clive Bannister, group chief executive, said: "The unique Phoenix business model, combining our skills in closed life fund consolidation with our asset management capabilities in IGNIS, continues to deliver strong cash flows. "Despite recent extreme market volatility I remain confident we will achieve our 2011 targets. We will be l...