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Standard Life first-half operating profit up 6 percent ahead of Aberdeen merger

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Standard Life first-half operating profit up 6 percent ahead of Aberdeen merger

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LONDON (Reuters) – Insurer and asset manager Standard Life <SL.L> posted a 6 percent rise in first-half operating profit on Tuesday, as it nears completion of an 11 billion pound ($14.35 billion) merger with Aberdeen Asset Management <ADN.L>. The tie-up between the two Scottish firms will complete on Aug. 14, after being signed off by shareholders in June. Operating profit before tax was 362 million pounds, above a company-supplied consensus forecast of 353 million. The firm’s assets under administration rose 1 percent to 362 billion pounds, in line with forecasts. But Standard Life’s flagship GARS (Global Absolute Return Strategies) multi-asset strategy saw 5.6 billion pounds in net outflows over the period, also in line with forecasts. Standard Life said it would pay an interim dividend of 7 pence per share, up 8.2 percent and against a forecast 6.99 pence.

(Reporting by Carolyn Cohn; editing by Simon Jessop)
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