Doing Business In Canada

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News 20

Canadian boost for Standard Life

A strong performance in Canada and further cost cutting has delivered a 28% increase in operating profit for Standard Life.

The Edinburgh-based insurer made £544m last year compared with £425m in 2010.

Over the year, the company cut costs by £45m and said it was on target to achieve £100m of savings in the first half of 2012.

While income from the UK business fell slightly in 2011, in Canada profits increased by 70% to £187m.

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