Prudential Plc FY17 Profit Rises On Higher Premiums, Lifts Dividend

(RTTNews) - Prudential plc (PRU.L), a UK-based financial services group, reported Wednesday that its fiscal 2017 profit before tax grew to 3.97 billion pounds from last year's 3.21 billion pounds.

Earnings per share were 93 pence, higher than 75 pence last year.

Total revenue, net of reinsurance, was 86.56 billion pounds, up from 71.84 billion pounds a year ago. Gross premiums earned improved to 44.01 billion pounds from 38.98 billion pounds last year.

Earned premiums, net of reinsurance, went up to 41.94 billion pounds from 36.96 billion pounds last year.

The company reported double-digit broad-based growth in Asia new business profit, up 12 percent.

Further, the company announced that full-year 2017 ordinary dividend increased by 8 percent to 47 pence per share.

Mike Wells, Group Chief Executive, said, "Our clear, consistent strategy, high-quality products and constantly improving capabilities have enabled us to deliver excellent progress across the Group, led by double-digit growth in our Asia business. We have also achieved all of our 2017 objectives, which we set in December 2013. This represents the third set of objectives successfully achieved within the last 10 years."