Insurance group Aegon booked net profit of €153m in the first three months of 2008 compared with €707m in the same period last year.
The figure is well below analysts’ expectations. The company blamed lower returns from investments in the US and the Netherlands and a one-off tax payment for the poor performance.
Underlying earnings before tax were up a ‘strong’ 9%, Aegon said in a statement.
For the full statement, click here
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