Legal & General Reports 3.5% Decline In Operating Profit

Legal & General Group PLC LGGNY reported a 3.5% decline in its operating profit for the six months ended June 30. Legal & General's operating profit on an IFRS basis dropped to GBP523 million, from GBP542 million, in the year-ago period. Analysts were expecting an operating profit of GBP508 million. Legal & General generated net cash of GBP427 million, versus GBP373 million, in the year-ago period. Legal & General shares fell 1.67% to close at $8.82 yesterday.