Prudential PLC Slides to Net Loss in FY21; Increases Dividend – Quick Facts

(RTTNews) – Insurance company Prudential plc (PRU.L, PUK) announced on Wednesday that its IFRS loss for the financial year 2021 attributable to shareholders was $2.04 billion, compared to a profit of $2.12 billion. dollars last year.

IFRS after-tax profit from continuing operations was $2.21 billion, down 10% from a year ago. Earnings per share from continuing operations were 83.4 cents, compared to 94.6 cents a year ago.

Earnings per share based on after-tax adjusted operating profit from continuing operations was 101.5 cents, compared to 86.6 cents last year.

Adjusted operating income from continuing operations increased 17% to $3.23 billion. New business profit from continuing operations was $2.53 billion, up 15%.

Total revenue, net of reinsurance, fell to $26.50 billion from $36.25 billion a year ago. Gross premiums earned reached $24.22 billion, compared to $23.50 billion last year.

APE sales increased 8% to $4.19 billion.

In addition, the company announced a second interim ordinary dividend of 11.86 cents per share, bringing the dividend for the full year to 17.23 cents per share, an increase of 7%.

Looking ahead, the company said it enters 2022 with a strong balance sheet and capital position. The timing of the opening of the Hong Kong border remains uncertain and Covid-19 will continue to have an impact. The current conflict in Ukraine could have broader implications for global economic and market conditions as well as geopolitical relations.

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