Prudential PLC's full-year 2024 financial results show promising growth and progress toward its 2027 strategic objectives. Here are the key highlights:
- New Business Profit: Up 11% to $3,078 million
- Operating Free Surplus: Steady at $2,642 million
- Adjusted Operating Profit:
- Before tax: Up 10% to $3,129 million
- After tax: Up 7% to $2,582 million
- Earnings Per Share: 89.7 cents per share, an 8% increase from 2023
- Group EEV Equity: $44.2 billion
- Free Surplus Ratio: 234%
- Share Buybacks: Completed $1,045 million under its $2 billion program, expected to finish by end-2025
- Dividend: 23.13 cents per share, a 13% increase
- Total Shareholder Returns: $1.4 billion for FY24
Looking ahead to 2025, Prudential expects growth of over 10% in new business profit, basic earnings per share, and operating free surplus. The company also anticipates a minimum 10% increase in dividend per share. Additionally, Prudential plans to establish a joint venture with India's Vama Sundari Investments to launch a standalone health insurance operation in the country.
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