The numbersPrudential has reported a profit before tax of £2.6bn for 2014 – 60 per cent up from the previous year. Operating profit rose 14 per cent to £3.1bn. The company's full year dividend climbed by 10 per cent to 36p per share. The Pru's capital surplus is estimated to stand at £4.7bn.
Why it's interesting
What Prudential saidCommenting on the results, Thiam said:
The group delivered a strong performance in 2014. We continued to grow across our key metrics despite the challenges presented by historically low long-term interest rates in the US and the UK, major currency discontinuities in some of our key Asian markets and unprecedented regulatory changes in the UK life market. IFRS operating profit increased 14 per cent to £3,186m and EEV new business profit grew 10 per cent to £2,126m. The group's underlying free surplus generation increased by 9 per cent to £2,579m and cash remitted by our business units increased by 11 per cent to £1,482m. These results represent solid progress towards our 2017 growth and cash objectives, which we set out at the December 2013 investor day in London