The company said total sales for the fourth quarter to theend of June would exceed 200 million pounds ($297 million) forthe first time since it was founded in 2004. Just Retirement posted third-quarter total sales of 164.9million pounds ($243.5 million), compared with 184.7 millionpounds in the same period last year. “At this [...]
The company said total sales for the fourth quarter to theend of June would exceed 200 million pounds ($297 million) forthe first time since it was founded in 2004. Just Retirement posted third-quarter total sales of 164.9million pounds ($243.5 million), compared with 184.7 millionpounds in the same period last year. “At this point in time we have a pretty accurate view of howmuch we will complete for the current quarter, we are veryconfident in the numbers we are quoting,” Chief Executive MikeFuller said. Fuller said sales were increasing because the company wascurrently offering better annuity rates than its rivals. “We will need to increase our forecast by at least 20million pounds,” broker Panmure Gordon said.
FinnCap said therecord sales would “add a slight spring especially as theyreflect strong annuity sales.” At 1217 GMT, Just Retirement shares were down 2.5 percent at78 pence. Fuller said that Just Retirement, which at the end ofDecember had 1.7 billion pounds in assets under management, wasreverting to its asset allocation of early 2008, moving awayfrom an overweight cash and gilts position and towards a 1billion pound allocation to UK investment grade corporate bonds. The company also invests about 100 million pounds in cashwith the balance invested in equity release mortgages, he said. ($1=.6739 Pound) (Reporting by Cecilia Valente; editing by Mike Nesbit and KarenFoster). Jets General Manager Mike Tannenbaum changed his tune, slightly, on quarterback Mark Sanchez’s timetable to get back on the field after undergoing knee surgery Feb 17 during his press conference at the Combine Friday.
Tannenbaum told reporters Sanchez would be ready “well” before training camp during a conversation at the Senior Bowl in late January. The general manager was less definitive about Sanchez’s return date on Friday. “We’re not exactly sure when he’ll be back on the field yet,” Tannenbam said “It’ll be before training camp. If I say well before training camp, the trainers will get mad at me, so I can only say before training camp.
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