Prudential PLC Posts Higher 2023 Adjusted Operating Profit
By Sherry Qin
Prudential PLC's adjusted operating profit rose in 2023, beating analysts' consensus forecast amid lower central costs and higher earnings from Eastspring, its asset management business.
The insurance-and-investment business said Wednesday that its IFRS-adjusted operating profit was $2.89 billion, up from $2.72 billion in 2022.
The result was slightly higher than market expectations of $2.88 billion, according to a company-compiled consensus.
Prudential's new-business profit increased 45% to $3.125 billion, which the company attributed to its shift of focus to Asia and African markets.
The company declared a full-year dividend of 20.47 cents a share, higher than the consensus of 20.32 cents a share.
Earlier last year, Prudential set a new goal to grow its new-business profit to between $4.4 billion and $5.4 billion by 2027.
Chief Executive Anil Wadhwani said the company is confident about achieving its 2027 financial and strategic objectives after a strong year and continued sales growth in the first two months of 2024.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
March 20, 2024 00:54 ET (04:54 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks