View more on these topics

Prudential increases dividend 20% as UK profits rise 7%

Prudential has hiked its interim dividend 20 per cent from 6.61p per share last year to 7.95p per share this year as UK operating profits increased 7 per cent from £330m in the first six months of 2010 to £353m this year.

The provider’s UK performance was driven by a surge in corporate pensions sales, which increased 20 per cent from £123m in the first half of 2010 to £147m this year.

However, individual pensions sales, including income drawdown, dropped 3 per cent from £41m in the first six months last year to £40m this year.

Prudential group chief executive Tidjane Thiam (pictured) says: “We have reported another good performance in the first half of 2011.

“Our UK business is performing in line with our strategy, balancing writing new business with generating cash and preserving capital.”

Prudential says it is making “good progress” in its effort to cut costs in its UK business by £75m a year by the end of 2013.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com