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Prudential sees 9% increase in UK operating profit to £504m

Prudential has reported a 9 per cent year-on-year increase in UK operating profits to £504m for the first half of this year.

In its interim results today, Prudential revealed the UK profits were up from £462m during the first half of last year, while new business profits increased 19 per cent to £129m.

In its international results, Prudential’s profits increased 7 per cent to £1.4bn.
The insurer’s dividend increased 5 per cent to 5.99p.

Prudential says that in the UK it continues its strategic focus on the retirement income market and it has seen 75 per cent growth in new advances for lifetime mortgages.

It now estimates it is the market leader in this sector.

Chief executive Mark Tucker says: “These figures demonstrate that the disciplined delivery of our UK strategy is producing the anticipated positive financial results, with strong growth across both our retail and wholesale operations.”

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