Just Retirement’s equity release advances up 20.4% in 2010

Just Retirement’s equity release sales have increased by 20.4 per cent from £96.8m in 2009 to £116.5m in 2010.

In its interim results for the year ending December 31, 2010, group sales were £495.1m, up 11 per cent from £446.1m the year before.

The group registered a pre-tax profit of £25.5m, down 51.1 per cent from £52.2m the year before.

Just Retirement’s assets under management increase to £3bn compared to £2.8bn at June 30, 2010.

Chief executive Rodney Cook says: “Just Retirement is well positioned to benefit from the changes taking place in the retirement income market. While we will continue to focus on profitability and capital preservation, Just Retirement confidently expects growth in all of its key financial metrics when it reports its full year results.”