Phoenix Group exceeds expectations with £2.024bn in total cash generation in 2023, surpassing 2025 target two years ahead.
Phoenix Group, a leading FTSE 100 pensions and savings provider, reported strong financial results for 2023, exceeding expectations with £2.024bn in total cash generation. The company achieved £1.514bn in incremental new business cash generation, surpassing its 2025 target of £1.5bn two years ahead of schedule. Phoenix Group aims to deliver growing, sustainable cash generation as part of its next phase of strategy, with a focus on growing operating cash generation, maintaining a resilient balance sheet, and driving strong growth in IFRS adjusted operating profit through business growth and cost efficiencies.
March 22, 2024
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