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Unaudited Interim Results
- Operating profit up seven per cent to £474 million
- Dividend up 9.4 per cent to 7.0 pence per share
- Operating earnings per share up 13 per cent to 18.0 pence
- UK IFA weighted sales up 71 per cent boosted by acquisition of Scottish Amicable
|
Half year
ended 30 June |
Full year |
| Results summary |
1998 £m |
1997 £m |
1997 £m |
|
| Operating profit (including averaged investment gains) |
|
| UK operations |
221 |
197 |
391 |
| Jackson National Life |
197 |
176 |
367 |
| Prudential Asia |
4 |
4 |
11 |
| Australia and New Zealand |
6 |
14 |
30 |
| Prudential Portfolio Managers |
27 |
18 |
44 |
| Other income |
19 |
33 |
52 |
|
| Total operating profit |
474 |
442 |
895 |
| Adjustment from averaged to actual investment gains |
25 |
(1) |
52 |
| Reclassification of shareholder reserves of Australian operation |
- |
204 |
204 |
| Profit on business disposals |
- |
- |
18 |
|
| Profit before tax (including actual investment gains) |
499 |
645 |
1,169 |
|
 |
| Operating earnings per share |
18.0p |
15.9p |
33.3p |
| Total earnings per share |
19.2p |
24.1p |
43.3p |
|
|
| Dividend per share |
7.0p |
6.4p |
19.1p |
|
|
| Achieved profits basis shareholders' funds |
£7.5bn |
£7.1bn |
£6.9bn |
|
|
| Funds under management |
£130bn |
£100bn |
£119bn |
|
Profit before tax includes actual investment gains and exceptional items. The Company believes that operating profit, which includes averaged investment gains but excludes exceptional items, better reflects the Group’s underlying performance.
The dividend will be paid as a foreign income dividend (FID) on 26 November 1998 to shareholders on the register at the close of business on 25 September 1998.
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