Prudential PLC Slips To Net Loss In FY21; Lifts Dividend - Quick Facts

(RTTNews) - Insurance company Prudential plc (PRU.L, PUK) reported Wednesday that its fiscal 2021 IFRS loss attributable to equity holders was $2.04 billion, compared to last year's profit of $2.12 billion.

IFRS profit after tax from continuing operations was $2.21 billion, down 10 percent from last year. Earnings per share from continuing operations was 83.4 cents, down from 94.6 cents a year ago.

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

Adjusted operating profit from continuing operations grew 17 percent to $3.23 billion. New business profit from continuing operations was $2.53 billion, up 15 percent.

Total revenue, net of reinsurance, declined to $26.50 billion from $36.25 billion a year ago. Gross premiums earned grew to $24.22 billion from last year's $23.50 billion.

APE sales went up 8 percent to $4.19 billion.

Further, the company announced second interim ordinary dividend of 11.86 cents per share, bringing the full year dividend to 17.23 cents per share, an increase of 7 per cent.

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 wider implications for global economic and market conditions as well as geopolitical relations.