Phoenix Group Holdings (PHNX.L) reported that its fiscal 2012 profit attributable to Owners of the parent was 392 million pounds, compared to a loss of 131 million pounds in the prior year. Earnings per ordinary share was 226.2 pence, compared to a loss of 76.2 pence in the previous year.
Profit before the tax attributable to owners was 290 million pounds, compared to a loss of 177 million pounds in the prior year.
Total revenue, net of reinsurance payable, for the year declined to 1.17 billion pounds, from 6.48 billion pounds in the prior year.
The company said that its board has recommended a final dividend of 26.7 pence per share bringing the total dividend for the year to 47.7 pence. The recommended 2012 final dividend of 26.7 pence per share is 27% higher than the 2011 final dividend of 21 pence per share. The final dividend is due to be paid on 3 May 2013. The ordinary shares will be quoted ex-dividend on the London Stock Exchange as of 3 April 2013. The record date for eligibility for payment will be 5 April 2013.
The company aims to deliver cash generation of between 650 million pounds and 750 million pounds in 2013. In addition, the company maintained its annual average target of 100 million pounds of MCEV enhancements through management actions over the period 2011 to 2014.
The company sets an increased cash generation target for 2011 to 2016 of 3.5 billion pounds.
For comments and feedback: editorial@rttnews.com