CARDIFF (dpa-AFX) - Admiral Group Plc (ADM.L), a British financial services provider, on Wednesday posted a decline in earnings for 2022, amidst a fall in revenue and a rise in expenses.
For the 12-month period to December 31, 2022, the Cardiff-headquartered company recorded a pre-tax income from continuing operations of 469 million pounds, lesser than 713.5 million pounds of 2021.
Post-tax earnings were at 371.8 million pounds or 123.7 pence per share as against previous year's 996.7 million pounds or 334.5 pence per share.
Operating profit stood at 480.9 million pounds, a dip from 725.4 million pounds a year ago.
Insurance claims and claims handling expenses rose to 2.081 billion pounds, versus 1.506 billion pounds of 2021. Total expenses jumped to 1.010 billion pounds from 824.6 million pounds a year ago.
Net insurance premium revenue, however, moved up to 911 million pounds as against last year's 855 million pounds.
Net revenue was at 1.491 billion pounds, lesser than 1.550 billion pounds of 2021.
The Group will pay a final dividend of 52 pence per share, compared with last year's 72 pence per share. In addition, it will distribute a special dividend of 46 pence per share from the sale of Penguin Portals. The dividend will be paid on June 2, to shareholder of record date is on May 5.
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