Royal Sun Alliance Profits Treble
Shares up as insurers release pre-tax profit figures
12th May 2005
Shares in UK insurance group Royal Sun Alliance rose 3.74% on release of results showing a 3-fold increase in pre-tax profits.
Pre-tax profits before exceptionals reached £185m in the first quarter of 2005, up from £53m for the same period the previous year.
The group has been undergoing a restructuring exercise since 2003 involving the loss of 20,000 jobs, and a refocussing on the general insurance market resulting in annual savings of around £200.
Read More: BBC Report
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