Phoenix Group Holdings PLC

Phoenix Group Holdings PLC (LSE: PHNX) is an FTSE 100 index-listed savings and retirement business.

FY23 Interim Results (Released on 18 September 2023)

• Improved Performance: The company reported an increase of 106% year on year in H1 FY23 incremental long-term new business cash generation which stood at GBP 885 mn versus GBP 430 mn in pcp. the net funds flow in new business rose to 72% year-on-year basis in H1 FY23 at GBP 3.1 bn as compared to GBP 1.8 bn in pcp.
• Resilient Balance Sheet: The Solvency -II Shareholder Capital Coverage Ratio is at the top end range of 140% - 180%, and stood at 180%, whereas the Solvency II Surplus was 3.9 bn in the reported period.
• Dividend Declaration: The management announced an interim dividend of GBX 26.0 per share, which will be paid on 23 October 2023.
• Outlook: The management is optimistic and expects to deliver cash generation at the top-end range of GBP 1.3 bn to GBP 1.4 bn for FY23 and to meet the 3-year cash generation target of GBP 1.4 bn in FY23. The company is striving to expand its global footprint organically as well as through Mergers.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Phoenix Group Holdings PLC (LSE: PHNX) was trading at the current market price of GBX 538.80 (as of 20 September 2023, 01:45 PM GMT+1)  

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 20 September 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.

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