Standard Life profits boosted by cost cuts

City A.M. Reporter
British insurer Standard Life reported a bigger-than-expected 44 per cent jump in its half-year profit, with cost cuts and stronger sales outweighing a big increase in investment in new products and technology.

Edinburgh-based Standard Life, Britain's fifth-biggest insurer, had a pretax operating profit of £262m, up from £182m a year earlier, the company said.

Analysts had expected a profit of £198m, according to a consensus forecast calculated by the company.