INSURANCE group Prudential said that businesses across the group were "firing on all cylinders" after reporting better-than-expected half-year figures.
The further evidence of the Pru's recovery from the tough economic and regulatory conditions of the past two years came with a 55 per cent rise in operating profits to £563m and a 13 per cent improvement in sales - based on the industry's standard measure - to £853m.
But the progress was offset by the lack of an update on the sale of the Pru's 79 per cent stake in Internet bank Egg - a process that began at the start of the year and involved talks with several parties.
Jonathan Bloomer, chief executive, said discussions were continuing, adding that Prudential's core businesses had considerable opportunities to grow. In the UK, sales were up by 15 per cent although a change in the company's product mix hit margins and left new business profits only two per cent higher at £88m.
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