SL reports rising sales

Standard Life today reported forecast-beating first-quarter sales.
By The Newsroom
Published 27th Apr 2011, 12:16 BST
Updated 28th Apr 2011, 12:09 BST

The city-based insurer said it was confident a costly programme of investment in new products and technology would help drive future profit growth.

The company had total new business sales of 5.8 billion over the first three months of 2011, up 25 per cent on the same period last year.

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Analysts had expected sales of 4.9bn, according to a consensus forecast calculated by the company.

Shares fell ten per cent in the past six weeks amid uncertainty over when a programme of investment in new technology would deliver results. The company today said it was confident the expenditure would bolster its profits.