Prudential hopes bumper profit will help investors forget AIA
PRUDENTIAL is set to increase its half-year dividend to 7.95p when it announces robust results later this week. The firm will hope bumper profits of around £970m will help investors move on from its collapsed £22bn bid for rival AIA last year.
The second quarter results will build on a strong performance in Pru’s first quarter, in which it beat market estimates following a sharp upturn in its key Asian markets.
Prudential has been focussing on fast-growing Asia to offset stagnant growth at home, and generated 43 per cent of its sales in the region last year. Prudential boss Tidjane Thiam survived calls for his head following the AIA debacle, in which Pru investors baulked at the sky-high valuation. The business was left with £377m in costs.