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Prudential profit rises 14%; to complete wealth demerger in fourth quarter

By BFN News | 10:38 AM | Wednesday 14 August, 2019


Insurance company Prudential posted a rise in first-half profit, driven by a strong performance in Asia. Bottom-line net profit for the six months through June rose 14% to £1.54bn. Operating profit from continuing operations, excluding the soon-to-be-separated investment arm M&GPrudential, rose 21% to £2.02bn or by 14% on a constant currency basis. Prudential said the demerger of M&GPrudential was expected to be completed in the fourth quarter of 2019. The company declared an interim dividend of 16.45p per share, up 5% on-year. 'We have delivered a positive performance in the first half of 2019,' chief executive Mike Wells said. 'Our focus on structural growth opportunities in terms of geographies, products and distribution platforms and our diligent approach to execution mean that we are well placed to continue to deliver important benefits for our customers and profitable growth for our shareholders.' At 10:38am: (LON:PRU) Prudential PLC share price was +23.25p at 1500.25p Story provided by StockMarketWire.com

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