Prudential Plc 2378; PUK

[winston]

vested

PRU (02378.HK) 2022 Results Swing into Profit of US$998M; Final DPS Grows to US13.04 Cents

PRU (02378.HK) announced the financial results for the year ended 31 December 2022.

The gross premiums earned from continuing operations declined 3.6% YoY to US$23.344 billion.

A profit of US$998 million was recorded, compared to the loss of US$2.042 billion in the corresponding period of the year before. EPS was US36.5 cents.

Dividend History
Announce Date Event Particular
2022/08/10 Interim D:USD 0.0574(equivalent to HKD 0.450414)
2022/03/09 Interim 2 D:USD 0.1186(equivalent to HKD 0.9307)
2021/08/11 Interim D:USD 0.0537(equivalent to HKD 0.4179)
2021/08/06 Special Distribution in specie:1 Jackson Financial Inc. share for 40

A final dividend of US13.04 cents per share was declared against a dividend of US11.86 cents per share in the corresponding period of the previous year.

The full-year DPS in 2022 amounted to US18.78 cents, up 9%.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... 251774/all

[winston]

vested

Prudential’s 2022 profits from continuing operations fall more than 50%

by Yong Hui Ting

FOR the financial year ended Dec 31, 2022, Prudential’s profits from continuing operations attributable to shareholders fell 54 per cent to US$998 million, from US$2.2 billion in the previous year.

Profits from continuing operations in the company’s Indonesia segment fell the most, by 23 per cent to US$343 million, said Prudential on Wednesday (Mar 15).

Profits from continuing operations in Eastspring – the group’s asset management arm – slipped 17 per cent to US$260 million in FY2022.

Source: Business Times

https://www.businesstimes.com.sg/compan ... ll-more-50

[winston]

vested

Prudential (2378 HK)
2022: Results Below Expectations, Better Recovery Ahead

Pru’s 2022 results missed our expectations, mainly affected by rising interest rates.

In 2M23, Pru recorded double-digit APE growth, with the reopening of the Hong Kong China border expected to drive Pru's premium growth, resulting in a strong growth in new business value.

The Board also suggested a second interim dividend of 13.04 US cents per share.

Maintain BUY with target price reduced to HK$141.90 as we trim our 2023/24 NBP and EV forecasts.

Source: UOBKH

https://research.uobkayhian.com/content ... 6474828fb2

[winston]

vested

Prudential PLC
Pain from IFRS 17 and EEV

We see FY22 key operating metrics as largely in line, apart from new business profits which were adversely impacted by higher rates under EEV.

A key surprise was the negative 19-25% impact of IFRS 17 on operating profits, higher than the impact on Manulife and AIA.

In our view, IFRS 17 will raise Pru’s book value and affect the timing of profit recognition, with no cashflow, EEV or NBP impact.

Reiterate Add rating but cut TP to HK$143 on lower FY23F-25F EPS.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 04AF74324E

[winston]

not vested

Prudential (PRU.L)

Prudential shares fell 5% in London despite the company revealing a rise in profits over the past year thanks to “early progress” in its recent growth strategy.

The insurance and asset management firm said it was “increasingly confident” that it will now achieve growth targets for 2027, which it set out following a strategy review last year.

Adjusted operating profits grew 6% to $2.9bn (£2.3bn) in 2023, compared with the previous year, while it also benefited from positive policy sales in Asia and Africa.

New business profit increased 45% to $3.1bn,

The board approved a second interim dividend of 14.21 cents per share, taking the total dividend to 20.47 cents, up 9% year-on-year

Source: Yahoo Finance

[winston]

not vested

HK drives Prudential to US$1.7b turnaround

by Cici Shi

Prudential (2378) swung to a net profit of US$1.71 billion (HK$13.3 billion) in 2023 and declared a second interim dividend of 14.21 US cents, 9 percent higher than a year earlier.

That compared with a net loss of US$997 million in 2022.

Its adjusted operating profit also increased 8 percent yearly to US$2.89 billion.

The Asia-focused insurer's new business profit rose 43 percent to US$3.12 billion with Hong Kong accounting for 45 percent of the total, thanks to an over threefold increase in new business profit.

However, in the mainland new business profit decreased and its loss widened, due to falling interest rates on insurance assets and liabilities.

Source: The Standard

https://www.thestandard.com.hk/section- ... turnaround