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Prudential posts record operating profit in 2016, shares rise

Tuesday, March 14, 2017 - 17:05

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British insurer Prudential reported record 2016 operating profit of £4.3 billion (S$7.4 billion) on Tuesday, led by growth in its Asian business and sending its shares higher.

[LONDON] British insurer Prudential reported record 2016 operating profit of £4.3 billion (S$7.4 billion) on Tuesday, led by growth in its Asian business and sending its shares higher.

Analysts were expecting operating profit of £4.1 billion, a company-compiled poll showed.

Prudential, which has large operations in Britain, the United States and Asia, has been focusing on expanding its Asian business.

The firm saw a 15 per cent rise in Asian operating profit, to £1.6 billion.

The insurer, which is listed in London and Asia, said it would pay a second interim dividend of 30.57 pence per share and total dividend of 43.5 pence, up 12 per cent from a year earlier and compared with a forecast 41.62 pence.

REUTERS

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