Just Group plc (JUST.L), a provider of retirement products and services, Tuesday reported profit before tax of 74 million pounds for the first half, lower than 117 million pounds in the comparable period last year. This reduction primarily reflected lower positive investment variances of 23 million pounds compared with 71 million pounds a year ago.
Excluding one-time items, adjusted profit before tax increased to 267 million pounds from 246 million pounds in the previous year.
Underlying operating profit was 249 million pounds, 44 percent higher than 173 million pounds posted a year ago.
Net profit was 54 million pounds or 4.6p per share, down from 82 million pounds or 7.2p per share last year.
Insurance revenue grew to 859 million pounds from 753 million pounds a year ago, while insurance service result was up to 71 million pounds from 54 million pounds.
Net investment result, however, declined to 134 million pounds from 143 million pounds last year.
The Board has declared an interim dividend of 0.7 pence per share, to be paid on October 4.
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