CBI member, Prudential has released its Half Year Results for 2019. Headline results include the fact that the company’s Asia operating profit increased by 14% to account for 18% of Prudential’s international takings. Mike Wells, Group Chief Executive said: “The Group’s performance has again been driven by [Prudential’s] Asian business, where we have delivered double-digit growth across our key metrics of operating profit.”
Total assets under the Prudential’s Asia asset management subsidiary, Eastspring, grew by 12% to £169.5 billion, with positive external net flows of £3.1 billion. Prudential’s growth across the Asia – Pacific shows no signs of slowing, with new business profit also up by 10%.
Mr. Wells was optimistic this strong performance would continue into the fourth quarter, citing the fact that “Preparations are complete for Prudential’s move to Group-wide supervision by the Hong Kong Issuance Authority [in anticipation the demerger if M&G Prudential]. We believe that the demerger will enable both businesses to maximise their potential performance. Both will have experienced management teams better able to focus on their strategic priorities and distinct investment prospects, as well as improved allocation of resources and greater flexibility in execution.”
To read Prudential’s Half Year 2019 Results in full, please follow the link.
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