Phoenix Group : Strong cash flow generation and dividend growth
>Strong cash flow generation thanks to significant synergies - Phoenix Group yesterday reported its 2021 results. Group cash flow generation came to £ 1.717bn in 2021 (+0.2%), ahead of expectations (consensus £ 1.61bn, our forecast £ 1.606bn) and the group’s guidance (£ 1.5-1.6bn), bearing in mind that it expected cash flow generation at the top of this initial target range. Cash-flow generation benefited from £ 400m of integration synergies. Phoenix Group also gen...Phoenix Group Holdings is a closed life and pension fund consolidator. Co. manages manage life insurance funds which no longer actively sell new life or pension policies and which run-off gradually over time. Co. has one reportable segment, comprising its investment in and loans to/from Co.'s entities. Its revenue principally comprises the dividend and interest income derived from these investments and loans. As of Dec 31 2014, Co. had approximately 5.0 million policyholders and about £52.30 billion of total life company assets.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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