Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
LONDON -- Legal & General (LSE: LGEN.L ) has advanced 31% to 134 pence so far during 2012, making the share one of this year's best performers in the FTSE 100 (UKX).
The group, which provides a variety of savings and investment management products, seems to have impressed investors with a series of resilient statements.
During February, Legal & General announced 2011 results that showed profits improve 5% to 1,056 million pounds, with worldwide sales up 7% to 1.9 billion pounds and a full-year dividend up 35% to 6.40 pence per share. The firm said all of its business divisions had delivered increased sales, cash generation, and profits.
During May, Legal & General's first-quarter statement revealed total investment management funds had advanced 3% to 383 billion pounds, and cash generation had been stable at 210 million pounds. The update also noted the switch to auto-enrollment of pensions was beginning to have a positive impact, with 415,000 potential members recruited during the quarter.
Then in August, Legal & General disclosed half-year results that showed profits rising by 25 million pounds to 518 million pounds, and an interim dividend up 18% to 1.96 pence per share. Nigel Wilson, group chief executive, said:
Our financial and strategic discipline creates confidence in complex and chaotic markets. In spite of economic conditions, we continue to grow. LGIM achieved strong net flows of [4 billion pounds], UK protection gross premiums grew by 9% to [672 million pounds], and we also achieved 13% growth in US gross premiums to $456 million... Our balance sheet strength and robust financial discipline provides Legal & General with options to accelerate our evolution, delivering further value for customers and shareholders.
Legal & General's next trading update will be published on November 1st, which may reveal further encouraging news that can impress investors.
More blue-chip winners of 2012 are revealed in "Neil Woodford's Favorite Large-Caps," an exclusive Fool report that names the FTSE shares the market-trouncing City investor is backing today, and the investing logic behind them.
You can discover the potential winners Woodford favors right now by downloading this free report while it remains available.
Are you looking to profit from this uncertain economy? "10 Steps to Making a Million in the Market" is the very latest Motley Fool guide to help Britain invest. Better. We urge you to read the report today -- it's free.
Further Motley Fool investment opportunities:
- The FTSE 100 Share Warren Buffett Loves
- 8 Dividend Plays Held by Britain's Super-Investor
- What Every New Investor Needs to Know
Barry does not own any share mentioned in this article.