Standard Life reports quarterly results
Standard Life is transforming the way it reports its financial results by publishing quarterly results for the first time in its history.
Ahead of a planned flotation in 2006, the mutual life insurer will also change its year-end from November 15 to December 31, to bring it into line with other companies.
The move follows criticism in the past that Standard’s reporting had lacked transparency.
It only reported annual results for the first time in 2003, following the issue of £1bn of subordinated debt. Detailed profit and loss figures are expected to begin in 2006.
Standard Life investor relations director Amanda Forsyth said: ‘We have been stepping up our contact with the City over the last couple of years.
‘The feedback on our efforts has been positive – but there is always an appetite for more information.
‘Quarterly reporting will satisfy this demand and give all of our stakeholders a more detailed picture of our business.’