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Closed life fund consolidator Phoenix has held the majority of its annual bonuses at low rates or at 0% as it focuses on final payouts.
Concerns have been raised about the role of auditors PricewaterhouseCoopers (PwC) after financial uncertainties arose at accountancy and advisory group RSM Tenon.
New figures suggest the bigger your business, the less profitable it is likely to be. But why? And how big (or small) should a firm be to maximise profits? Rahul Odedra investigates…
Other profits articles
Support services provider threesixty’s profits were dented in 2010 following its takeover by Standard Life and an increase in staff costs.
Closed life fund consolidator Phoenix Group has posted operating cash flows of £496m in the six months to 30 June 2011.
Prudential’s two main retirement product businesses have increased profits this year, following a poor year for Prudential Annuities in 2009.
Positive Solutions reports pre-tax losses for 2009 in excess of £7m, due largely to a one-off multi-million pound tax hit.
IFA Cavanagh warns short term profitability may be sacrificed as the group evolves to meet RDR requirements.
Towry Law made a strong return to profit last year, following difficult trading conditions in 2008.
Friends Provident returned to profit in 2009 after making a loss of almost £250m in the previous year.
Aviva’s UK life and pensions sales fell 25% in 2009 despite strong global results for the group.
Prudential’s UK retail new business fell by 11% in 2009 as the group focused on profitability over volume.
Brett Davidson, chief executive of FP Advance, says client segmentation can improve customer service and your business’s bottom line
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