Just Group has reported a drop in underlying operating profit during H1 2025
The UK financial services organisation's half-year results – published earlier today (7 August) – revealed that its operating profit dropped to £192m for the first part of 2025, compared to £249m in the same period in 2024, as it prepares for its sale to Brookfield Wealth Solutions (BWS).
The company said in a statement announcing the results that underlying operating profit of £192m (H1 24: £249m) driven by lower new business margins on lower sales, offset by higher recurring in-force profit.
Just Group plc group chief executive officer, David Richardson remained upbeat and said that he was pleased with the performance in the first six months of 2025, particularly given the "quieter level of transactions in the DB market at the beginning of the year".
Retirement Income sales also reduced at £2.2bn (H1 24: £2.5bn). DB sales were £1.6bn, down 13%, but, it added that they have outperformed a slower market that is expected to rebound strongly in the second half of 2025.
As of the end of July, the DB business has written or is exclusive on £0.4bn and the company added that it has a strong pipeline of small, medium and large transactions in a busy and competitive DB market.
"With multiple opportunities available to us, the second half of the year is already shaping up to deliver a strong six months of sales for the group," added Richardson.
"We remain disciplined, continue to execute strongly and are investing in the business to support our future growth.”
