Just Group PLC

JUST

Equity

ISIN GB00BCRX1J15 / Valor 22735961

LSE London Stock Exchange, SETS (2024-12-23)

GBP 1.60-0.74%

Just Group PLC
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About company

Just Group PLC is a financial services group listed on the FTSE, with a growing workforce of over 1,200 employees and a large customer base of over 650,000 individuals. The company specializes in managing pension savings, currently overseeing £24 billion in assets, and assisting customers in releasing equity from their properties, totaling over £6.7 billion.

Summarized from source with an LLMView SourceSector: Finance

Operating Profit Surge

Just Group PLC reported a significant increase in underlying operating profit for the year ended 31 December 2023, reaching £377 million. This marks a 47% rise compared to the previous year's £257 million, driven by higher new business and in-force profits.

Retirement Income Sales Growth

Retirement Income sales for Just Group PLC grew by 24% to £3.9 billion in 2023, up from £3.3 billion in 2022. This growth was supported by strong pricing discipline and risk selection, leading to an increased margin of 9.1% compared to 8.5% the previous year.

Capital Coverage Ratio

Just Group PLC maintained a robust Solvency II capital coverage ratio of 197% as of 31 December 2023, slightly down from 199% in 2022. The company has reduced its interest rate sensitivity and further diversified its investment portfolio to enhance resilience.

Dividend Increase

For the year ended 31 December 2023, Just Group PLC announced a dividend of 2.08p per share, reflecting a 20% increase from the previous year's 1.73p. This decision is based on the company's confidence in its strong fundamentals and future growth prospects.

Profit Before Tax

Just Group PLC achieved an adjusted profit before tax of £520 million for 2023, a significant turnaround from the adjusted loss before tax of £167 million in 2022. This improvement was driven by strong growth in underlying operating profit, positive longevity assumption changes, and economic profits.

Summarized from source with an LLMView Source

Key figures

86.5%1Y

98.9%3Y

103%5Y

Performance

33.1%1Y

37.2%3Y

43.4%5Y

Volatility