LONDON (dpa-AFX) - Prudential plc (PRU.L, PUK) reported fiscal 2023 total IFRS profit after tax of $1.71 billion. This is compared to a loss after tax of $1.00 billion on a constant exchange rate basis, or a loss was $997 million on an actual exchange rate basis, for prior year. Profit per share, in cents, was 62.1 compared to a loss of 36.8. The company said the swing in result largely reflects changes in short-term fluctuations in interest rates. Adjusted operating profit was up 8 percent or up 6 percent to $2.89 billion. Based on adjusted operating profit, profit per share, in cents, was 89.0 compared to 79.4.
Group EEV operating profit increased by 17 percent to $4.55 billion largely due to higher new business profits from insurance business, an increase in the profit from Eastspring, and a reduction in central costs.
Prudential plc stated that sales growth has continued in the first two months of 2024. The Group said, given the relentless execution focus in implementing strategy, it is increasingly confident in achieving 2027 financial and strategic objectives.
The Directors have approved a second interim dividend per share of 14.21 cents per share, for a total 2023 divided of 20.47 cents per share, an increase of 9 percent over the prior year.
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