CompaniesOct 17 2012

Just Retirement generates record sales of £1.5bn

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ByDonia O’Loughlin

Just Retirement has announced that it has generated record sales of £1.46bn for the year ending 30 June 2012, a 29 per cent increase on the previous year.

In its annual results, published today (17 October), Just Retirement said its operating profit before tax increased 15.7 per cent during the year from £75.3m at 30 June 2011 to £87.1m at 30 June 2012.

Annuity sales were up 33.8 per cent to £1.2bn and equity release mortgage advances also increased 11.4 per cent to £269.9m.

Just Retirement said the growth in annuity sales was primarily due to enhanced annuity products.

Rodney Cook, chief executive of Just Retirement, said: “We are pleased to report good results for the year to June 2012, in which the business once again has broken records across many of its key metrics, despite the challenging market conditions and difficult times for the economy.”