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Interim Results

Prudential profits boosted by double-digit Asia growth

10 August 2017 09:55

Prudential's operating profit grew by 5% to £2,358 million in the first half, led by an 18% increase in Asia new business profit to £1,092 million.

The US life insurance operating profit was £1,079 million, up 7%, while UK life retail APE sales were £721 million, up 22%.

M&G external asset management net inflows were £7.2 billion.

The company announced a 2017 first interim dividend of 14.50 pence per share, up 12% from the year before.

Mike Wells, group chief executive, said: "Our successful strategy, innovative products and strong execution have driven growth across all of our main performance measures led by double-digit growth in our Asian business. We have achieved our objective of generating over £10 billion of group cumulative free surplus between 1 January 2014 and 31 December 2017 six months early and we remain on track to achieve the remaining Asia-focused objectives by the end of this year."

At 9:55am: (LON:PRU) Prudential PLC share price was -8.5p at 1833p

Story provided by StockMarketWire.com

Related Company: PRU

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