London-listed savings and investments giant Standard Life reported a £50 million jump in operating profit for its investment business in the first half of the year.

The UK's Standard Life Investments enjoyed a 51 per cent year-on-year rise in operating pre-tax profit to £154 million (£240 million) during the first half of this year.

Standard Life said the growth was driven by the acquisition of Ignis, as well as strong net inflows into higher margin products including UK mutual funds and multi-asset investment solutions. As the business's EBITDA margin increased to 40 per cent, its EBITDA rose 53 per cent from the first half of last year to £161 million.

Assets under management increased a marginal 2 per cent to £250 billion thanks to “strong net inflow momentum and small but positive market movements”. Excluding Ignis, SLI's third party net inflows increased 78 per cent to £7.1 billion, of which 70 per cent came from outside of its UK home market.

Europe contributed strong net inflows of £2.2 billion, compared to £0.6 billion a year ago, while North America and Asia-Pacific generated net inflows of £1.5 billion and £800 million respectively.

In its last results statement under chief executive David Nish, who will hand over to chief executive of Standard Life Investments, Keith Skeoch, the group as a whole reported a 17 per cent year-on-year increase in underlying cash generation to £223 million and a 6 per cent year-on-year rise in operating pre-tax profit to £290 million.

“It has been an absolute privilege to lead Standard Life for the last six years and to help build our business into the strong global player it is today. I wish Keith and the inspirational people across all of our group every success for the future. Standard Life is very well positioned to deliver ongoing growth and to help our customers and clients to save and invest, so that they can look forward to their financial futures with confidence,” Nish said.