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    JRP   GB00BCRX1J15

JUST GROUP PLC

(JRP)
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Just : profit inches up, sees sales pick-up in second half

08/13/2020 | 01:02am EDT

Insurer Just Group posted higher first-half earnings on Thursday as strong in-force profit cushioned a slump in new business profit, and it forecast sales to be significantly higher in the second half.

In-force earnings are generated from the back book of annuities as capital is released over time, while new business profit is the income from new sales.

Underlying operating profit edge up to 117 million pounds ($152.98 million) for the six months ended June 30 from 114 million pounds a year earlier.

Just Group, which specialises in annuities for people with a reduced life expectancy, said its Solvency II capital coverage ratio improved to 145% from 141% at the end of 2019.

"The Group continues to manage its capital position and outlook following the significant regulatory changes relating to equity release mortgages," the company said.

"Taking this into consideration with the present economic uncertainty, the Board is not recommending the payment of an interim dividend."

Just Group did not pay a dividend last year either amid the regulatory changes.

The company said it remained exposed to further downgrades and future defaults on its corporate bond portfolio, as well as to a fall in house prices in the UK.

($1 = 0.7648 pounds)

(Reporting by Muvija M in Bengaluru; editing by Carolyn Cohn and Subhranshu Sahu)


ę Reuters 2020
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Financials
Sales 2021 2 798 M 3 885 M 3 885 M
Net income 2021 151 M 209 M 209 M
Net Debt 2021 284 M 395 M 395 M
P/E ratio 2021 8,52x
Yield 2021 -
Capitalization 1 038 M 1 443 M 1 442 M
EV / Sales 2021 0,47x
EV / Sales 2022 0,42x
Nbr of Employees 1 038
Free-Float 98,3%
Chart JUST GROUP PLC
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Just Group plc Technical Analysis Chart | JRP | GB00BCRX1J15 | MarketScreener
Technical analysis trends JUST GROUP PLC
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 100,00 GBX
Average target price 113,22 GBX
Spread / Average Target 13,2%
EPS Revisions
Managers and Directors
David Louis Richardson Group Chief Executive Officer & Executive Director
Andy Parsons Group Chief Financial Officer & Executive Director
John Peter Hastings-Bass Group Non-Executive Chairman
Giles Offen Group Chief Digital Information Officer
Paul Fulcher Group Executive-Capital Management & Investment
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