A £44m impairment cost attributed to upgrading its Ascentric platform has taken the shine off otherwise positive results for Royal London that included a 16% rise in group operating profit to £282m over the 12 months to December 2016.
The company said: "Profit from Royal London's uncovered business has moved from a profit into a loss of £44m due to significant cost being incurred in 2016 relating to the development of new back-office...
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