LONDON (dpa-AFX) - Prudential plc (PRU.L, PUK) said the Group has delivered a positive performance in the first half of 2019. The Group's operating profit from continuing operations increased by 14 percent during the period. Also, Prudential plc said M&GPrudential intends to list its shares under the name M&G plc when it demerges later in the current year.
For the first-half, profit to shareholders from continuing operations declined to 890 million pounds or 34.4 pence per share from 1.27 billion pounds or 49.4 pence per share, previous year. Group operating profit from continuing operations (excluding M&GPrudential) was 2.02 billion pounds, up 14 percent on CER basis, year-on-year. On European Embedded Value (EEV) basis, operating profit from continuing operations increased 1 percent to 2.64 billion pounds. EEV basis basic earnings per share was 115.3 pence compared to 103.0 pence.
First-half total revenue, net of reinsurance, was 40.60 billion pounds compared to 16.02 billion pounds, prior year. Earned premiums, net of reinsurance, increased to 15.77 billion pounds from 14.42 billion pounds.
Mike Wells, Group Chief Executive, said: 'We expect to complete the demerger of M&GPrudential in the fourth quarter of 2019, and preparations are complete for Prudential plc's move to Group-wide supervision by the Hong Kong Insurance Authority.'
The 2019 first interim dividend of 16.45 pence per ordinary share will be paid on 26 September 2019 in sterling to shareholders in the UK, and in Hong Kong dollars to shareholders on the Hong Kong branch on 26 September 2019.
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