Legal & General's pre-tax profits dropped from £783m to £457m in 2023, with lower profits in investment management and retail divisions.
Legal & General (L&G), a UK financial services company, reported a decline in its pre-tax profits from £783m in 2022 to £457m in 2023. The company's shares dropped following the announcement, with lower profits in investment management and retail divisions contributing to the decline. However, there was a 10% rise in operating profits from the company's bulk annuity business. Despite the decline, L&G remains on track with its five-year plan and will reveal its future growth plans in June.
March 06, 2024
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