Standard Life profits rise in first half as fee revenues deliver

Standard Life has reported an increase in pre-tax profits for the first half of the year, with strong growth in assets under management and fee based revenue.

Pre-tax profits increased by 28% to £161m, up from £126m last year while fee based revenue rose from £325m to £349m. Standard Life Investments' pre-tax profits rose 37%, from £68m to reach £93m while third party net inflows reached £7.1bn. Standard Life chief executive UK and Europe Paul Matthews said the RDR played to the strengths of the advisers the group does business with. He said: "We were well prepared for the regulatory changes introduced over the last year in the UK and we're starting to see the results we anticipated. Our strategy and high quality propositions continue to...