Just Group plc promises to be 'self-sufficient' by 2022 in latest Q2 results

Just Group plc has revealed its Q2 2019 trading update.

The board is said to remain focused on delivering capital of self-sufficiency by 2022, while developing other business options to enhance shareholder value in tandem.

There was an increase in Q2 volumes following a supposedly quiet Q1. Just Group’s focus on capital discipline is said to have been demonstrated by its H119 Retirement Income sales of £831m - 30 per cent lower than for H118.

The company’s ‘Guaranteed Income for Life’ sales of £288m for H119 maintained the Q1 run rate, too.

David Richardson, Interim Group’s chief executive officer, concluded: “The message from our shareholders has been clear. We have good businesses in attractive markets, which are performing well commercially.

“However, we must reduce new business capital strain and achieve capital self-sufficiency by 2022. All of our decisions are being made with this objective in mind.

“As we continue our constructive dialogue with the PRA, I am focused on adapting to the changing regulatory environment and putting the business on a surer footing for the future.”