Phoenix Group Holdings (PHNX)

Sector:

Insurance

Index:

FTSE 100

552.60p
   
  • Change Today:
      10.40p
  • 52 Week High: 591.80
  • 52 Week Low: 441.60
  • Currency: UK Pounds
  • Shares Issued: 1,001.54m
  • Volume: 3,660,461
  • Market Cap: £5,534m

Phoenix confirms ?3.2bn ReAssure deal on track as it hails strong year

By Abigail Townsend

Date: Monday 09 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Phoenix Group hailed a "strong year" on Monday after the closed life assurance and pensions consolidator posted a sharp increase in annual profits.
The blue chip, which buys and operates corporate pension schemes, reported a consensus-beating 14% increase in operating profits to ?810m for the year to 31 December, while cash generation beat internal targets, improving to ?707m from ?664m.

Clive Bannister, outgoing chief executive, said it had been a "strong year" for Phoenix: "We beat our cash generation target, made significant progress in the transition of Standard Life Assurance and announced the ?3.2bn acquisition of ReAssure."

Nicholas Lyon, chairman, added that Phoenix was "strategically positioned to capture future opportunities in the life and pensions industry. The ReAssure transaction will deliver ?7bn of incremental cash generation and, alongside supporting the dividend, will give us an enhanced platform to pursue further growth opportunities." The ReAssure deal is set to complete mid-2020, subject to regulatory approvals.

Phoenix is targeting cash generation of between ?800m and ?900m in the current year, and increased its five-year cash generation target by ?0.1bn to ?3.9bn for new business written during 2019.

Bannister is retiring later this month and will be replaced by Andy Briggs, the former head of Friends Life and Aviva UK.

Separately, Phoenix announced that group finance director Jim McConville was retiring after eight years with the company, and would be replaced by his deputy, Rakesh Thakrar.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PHNX Market Data

Currency UK Pounds
Share Price 552.60p
Change Today 10.40p
% Change 1.92 %
52 Week High 591.80
52 Week Low 441.60
Volume 3,660,461
Shares Issued 1,001.54m
Market Cap £5,534m

PHNX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
39.68% above the market average39.68% above the market average39.68% above the market average39.68% above the market average39.68% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Price Trend
40.23% above the market average40.23% above the market average40.23% above the market average40.23% above the market average40.23% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income
92.43% above the market average92.43% above the market average92.43% above the market average92.43% above the market average92.43% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
65.13% below the market average65.13% below the market average65.13% below the market average65.13% below the market average65.13% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average

What The Brokers Say

Strong Buy 3
Buy 5
Neutral 4
Sell 1
Strong Sell 0
Total 13
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PHNX Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 28-Sep-23
Paid 22-May-24 23-Oct-23
Amount 26.65p 26.00p

Trades for 28-Mar-2024

Time Volume / Share Price
17:05 220,233 @ 552.99p
16:35 1,728,305 @ 552.60p
16:35 3,282 @ 552.60p
16:35 3,692 @ 552.60p
16:35 3,586 @ 552.60p

PHNX Key Personnel

Chair Nicholas Lyons
CEO Andrew Briggs

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