Business News • MarketWire • Prudential PLC announces Half Yearly Report |
Prudential PLC announces Half Yearly Report |
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Prudential PLC announces Half Yearly Report
LONDON--(Marketwire - August 12, 2010) -
PRUDENTIAL PLC HALF YEAR 2010 RESULTS
STRATEGY CONTINUES TO DELIVER STRONG PERFORMANCE
Embedded Value:
. New business profit of GBP892 million, up 27%(1)
. Operating profit of GBP1,677 million, up 35%
. Shareholders' funds of GBP16.7 billion, equivalent to 657 pence per
share
IFRS:
. Operating profit of GBP968 million up 41%(2), underlying operating
profit up 19%
. Shareholders' funds of GBP7.2 billion up 14%
New Business:
. Total APE sales of GBP1,655 million up 28%(1)
. New business profit margin (% APE) of 54%
. Investment in new business - broadly flat at GBP337(1) million
(2009: GBP319 million)
Capital & Dividend:
. Insurance Groups Directive ("IGD") capital surplus estimated at
GBP3.4 billion
. Underlying free surplus generation up 63% to GBP947 million
. 2010 half year dividend increased by 5% to 6.61 pence per share
Commenting on the half year results, Tidjane Thiam, Group Chief
Executive said:"Prudential has
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