🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

RSA H1 operating profit rises 15 pct to $475 mln

Published 2017-08-02, 02:20 a/m
© Reuters.  RSA H1 operating profit rises 15 pct to $475 mln
NWG
-
RSAl
-

LONDON, Aug 2 (Reuters) - British motor and home insurer RSA RSA.L posted an above-forecast operating profit of 360 million pounds ($475.45 million) in the first half, led by strong performances in Canada and Scandinavia, it said on Wednesday.

Operating profit rose 15 percent from a year earlier, RSA said in a trading statement. Analysts had forecast operating profit of 338 million pounds, according to a company-supplied consensus forecast.

Underlying return on tangible equity was 16.6 percent, against a target range of 13-17 percent and forecast 15.3 percent.

Net written premiums rose 11 percent to 3.4 billion pounds on a reported currency basis, against a forecast 3.35 billion.

Best known in Britain for its More Than brand, RSA has been selling businesses and cutting costs under chief executive Stephen Hester, the former boss of RBS RBS.L , who joined in 2014 to overhaul the company.

RSA said it would pay an interim dividend of 6.6 pence, up 32 percent but below a forecast 7 pence.

($1 = 0.7572 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.