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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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