Just Group reports 'strong growth' in FY24
By Iain Gilbert
Date: Wednesday 15 Jan 2025
(Sharecast News) - Retirement products and services business Just Group reported "strong growth" across its defined benefit and retail businesses in 2024.
Just Group stated retirement income sales were up 36% to £5.3bnm driven by both defined benefit de-risking and guaranteed income for life. Total retirement income sales were up 49% at £6.4bn.
The FTSE 250-listed group said defined benefit sales were up 43% at £4.3bn, while guaranteed income for life sales rose 16% to £1.0bn.
Chief executive David Richardson said: "Our performance in 2024 once again proves the strength of our business model, with strong growth achieved across both our Defined Benefit and Retail businesses.
"We expect 2024 operating profit to substantially exceed a doubling of 2021 operating profit. Our successes in 2024 and positioning in strong markets together with the ongoing tailwind from higher long-term rates give us confidence in our prospects for 2025 and beyond. We are very excited about the future for Just."
As of 0900 GMT, Just Group shares were up 5.92% at 153.16p.
Reporting by Iain Gilbert at Sharecast.com
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