Prudential H1 operating profit up 6%, beats expectations

[LONDON] Insurer Prudential posted a forecast-beating six percent rise in first-half operating profit to 2.06 billion pounds (S$3.62 billion), led by growth in Asia, the firm said on Wednesday.

Analysts in a company-compiled consensus forecast had expected IFRS operating profit of 1.88 billion pounds.

The firm posted IFRS operating profit of 743 million pounds in Asia, compared with a forecast 725 million.

However, its UK asset management arm M&G saw a 10 per cent drop in operating profit to 225 million pounds, and the firm said it continued to experience "significant net outflows" in the first half.

Prudential said it increased its interim dividend by 5 per cent to 12.93 pence per share.

Prudential's shares rose 2.5 per cent to 1,425 pence by 0853 GMT, one of the top gainers in the FTSE 100 index.

REUTERS