Standard Life PLC (LSE:SL.) reported a 25% rise in first-half adjusted operating profit and said it remains on track to meet all of its 2026 financial targets, supported by growth across its pensions and retirement businesses.
IFRS adjusted operating profit rose to £563 million from £451 million a year earlier, while operating cash generation increased 6% to £745 million. Total cash generation climbed 15% to £900 million.
Assets under administration increased 5% from the end of 2025 to £333 billion, while cumulative annual run-rate cost savings reached £210 million, against a £250 million year-end target. The group nevertheless recorded an IFRS loss after tax of £179 million, compared with a £156 million loss a year earlier, largely reflecting £473 million of adverse hedging-related economic variances.
Standard Life declared an interim dividend of 28.05p per share, up 2.6% year on year.
Chief executive Andy Briggs said the company was demonstrating “exciting momentum” and remained confident about its prospects.
Growth plans include the proposed £2 billion acquisition of Aegon UK, expected to complete around the end of 2026 subject to regulatory approval, and a new pension risk transfer partnership targeting larger UK defined-benefit pension schemes.
Standard Life reiterated its target of around £1.1 billion of adjusted operating profit for 2026, alongside mid-single-digit growth in operating cash generation.
