Direct Line Insurance Group profit rises by better-than-expected 53%
Source - SMW
Direct Line Insurance Group said it expected to report a 53% rise in annual profit, beating market expectations, amid robust results in its motor and commercial divisions and lower-than-expected weather claims.
Pre-tax profit would be around £540.0m, compared to £353.0m a year earlier, the company said.
Profit from ongoing operations would be around £610m, up from £540m.
'The combination of our operating performance and favourable claims result has delivered financial results ahead of market expectations,' chief executive Paul Geddes said.
'Therefore we are publishing our headline results early and look forward to giving more details on the progress of the business in our preliminary results on 27 February 2018.' At 1:58pm: (LON:DLG) Direct Line Insurance Group PLC share price was +12.05p at 380.55p