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British insurer Prudential revealed rising 2013 operating profits and a dividend hike yesterday, sending shares surging to a record peak, but the group added that net earnings sank.
Operating profit, or earnings before tax and interest payments, rose 17% to £2.95bn ($4.89bn) last year, buoyed by a strong performance in Asia and the US, Prudential said in a results statement.
Total sales grew by 5.4% to £4.423bn, but earnings after tax tumbled by almost 38% to £1.346bn on the back of falling income from Prudential’s investments.
Prudential also ramped up its shareholder dividend by 15% to 33.57 pence a share.
The news sent its share price soaring to a record high of 1,440 pence, topping the risers board on London’s falling FTSE 100 index. The stock later stood at 1,399.72 pence, up 2.84% from Tuesday.
“The group has delivered a strong performance in 2013,” said chief executive Tidjane Thiam in the earnings release.
“Looking ahead, we believe that
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