Prudential Plc 2014 IFRS Profit Rises - Quick Facts

(RTTNews) - Prudential PLC (PRU.L, PUK) reported profit before tax (being tax attributable to shareholders' and policyholders' returns) of 3.15 billion pounds for the year ended 31 December 2014, compared to 2.08 billion pounds, a year ago. Profit before tax attributable to shareholders increased to 2.61 billion pounds from 1.64 billion pounds. Profit for the year attributable to equity holders of the company was 2.22 billion pounds, compared to 1.35 billion pounds. Earnings per share was 86.8 pence, compared to 52.7 pence.

Gross premiums earned was 32.83 billion pounds, compared to 30.50 billion pounds, prior year.

On European Embedded Value (EEV) basis, new business profit, on constant exchange rate basis, was 2.13 billion pounds, an increase of 10 percent over prior year. EEV post-tax profit attributable to shareholders was 4.34 billion pounds, compared to 4.36 billion pounds, prior year. EEV basic earnings per share based on post-tax operating profit was 160.7 pence, compared to 165.0 pence. EEV basic earnings per share based on post-tax total profit was 170.4 pence, compared to 171.0 pence.

The Board of Prudential plc has decided to rebase the full year dividend upwards by 10 percent, reflecting the 2014 financial performance of the Group. In line with this, the directors recommended a final dividend of 25.74 pence per share, which brings the total dividend for the year to 36.93 pence. The Group said although the Board has been able to recommend such a rebase in 2014, the Group's dividend policy remains unchanged.