M&G reported broadly flat first half underlying operating profit of £378mn (£398mn expected).
Assets under management rose 2.5% to £354.6bn. Net flows from open business turned positive with an inflow of £2.1bn (£3.1bn outflow expected).
The Shareholder Solvency II coverage ratio, a measure of balance sheet strength, rose from 223% to 230% since the start of the year. A first interim dividend of 6.7p was announced, up 1.5%.
Looking ahead, underlying operating profit is expected to grow at an average annual rate of 5% or more over the three years to the end of 2027.
The shares fell 2.3% in early trading.
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M&G key facts
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