BETTER appetite for long-term saving in the UK helped Standard Life lift annual profits and customer numbers.
The Edinburgh-based firm said positive trends and forthcoming regulatory changes, were giving its UK arm a boost as investor demand continues to recover following the financial crisis.
UK operating profits rose by 5% to £234m in 2010.
Standard Life said the new year had got off to a good start – with UK sales up “strongly” in the first two months.
But its results also reflected efforts to slash costs in order to shore up profit margins – including 600 job losses in the UK last September.
The number of UK customers for Standard Life’s DIY-style self-invested personal pension rose by 28% during 2010.