Standard Life UK profits grow 60% as fee revenues climb

The IFRS profit before tax figure of £141m compared to £87m recorded in the first six months of last year, and helped Standard Life group to an operating profit for the period of £302m, up 15% from £262m in 2011. Assets in its UK fee business grew by 4% to £104.3bn, reflecting a continuation of net inflows and positive market movements. But Standard Life said gross flows into its "new-style" propositions were £2.7bn, down from £3.1bn in the first half of last year. It said this was partly due to subdued consumer sentiment, ongoing economic uncertainty and increased commission-based...