Strong growth in all product and business areas helped Hibernian Group to report operating profits of £68.1 million (#86.5 million) in the six months to the end of June 2001, a 20 per cent rise on the figure for the same period last year.
Hibernian chief executive Mr Pat McGorrian said the result was achieved against a backdrop of disturbed equity markets and considerable increases in general insurance claims costs.
New business growth of 13 per cent in Hibernian Life and Pensions contributed to operating profit growth of 17 per cent to £47 million. Mr McGorrian said the group had made a significant contribution to the results of CGNU. Shareholders in CGNU entitled to receive a dividend converted to Irish pounds would receive 18.21p per share, Hibernian said.
CGNU recorded a 42 per cent rise in first-half profits. Operating profits before tax from ongoing businesses rose to £977 million sterling from £679 million sterling - topping the range of analysts' forecasts of between £880 million and £950 million sterling.
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