IL&P profits fall 10% after €47m US loss
Stripping out the loss on the disposal of Guaranteed Annuity, which was sold last June, IL&P saw operating profits rise by 3% to €363m for the year to end December 2003 helped by a rebound in life and pension sales, and strong banking profits. But after tax profits for the year were down from €290m to €261m.
IL&P said underlying adjusted earnings per share were 3% lower last year at 111.6c, but this was due to the Government's banking levy which took 4.5c, or €12.2m, off earnings. Despite the dip in profits IL&P is increasing the final dividend by 7.4% to 51c.
