Prudential posts 13 percent half year profits rise
Its US and Asian operations helped boost its group profits thanks to strong growth
By CFOWorld staff | CFO UK | Published 10:43, 10 August 12
Prudential posted a 13 percent rise in its profits for its first six months, buoyed by strong growth in its US and Asian operations, the insurer said on Friday.
Prudential recorded an operating profit of £1.16 billion in the first six months of 2012, beating analyst forecasts of £1.13 billion.
The UK’s biggest insurer invests cash from its mature UK operation to fund expansion in the booming economies of south-east Asia.
"Prudential has produced a strong performance across our key financial metrics despite the considerable global macroeconomic challenges," chief executive Tidjane Thiam said in a statement.
Prudential shares were up 0.3 percent by 9:28 a.m. British Time, narrowly outperforming a flat Stoxx 600 European insurance share index. The stock has risen 27 percent since the start of the year, outperforming a 15 percent increase for the sector.
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