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Prudential Reports Strong Profit Growth and EPS Increase

Prudential plc shows robust fiscal 2024 results with profit after tax rising to $2.4 billion and EPS at 84.1 cents. Positive projections for growth in fiscal 2025 further bolster investor confidence.

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AI Rating:   8

Profit After Tax and EPS Growth
Prudential plc reported a fiscal 2024 profit after tax of $2.4 billion, a significant increase from $1.7 billion in the prior year. This is a positive indicator for shareholders, suggesting effective management and a strong operational performance.

The basic earnings per share improved to 84.1 cents, up from 62.1 cents, representing a strong year-over-year growth. Additionally, adjusted earnings per share increased by 8 percent on a consistent basis, which further supports the company's progressive financial outlook.

Operating Profit
The adjusted operating profit before tax was reported at $3.1 billion, marking a 10 percent increase, which indicates solid operational efficiency and growth within the company's ongoing business model.

New Business Profit
Prudential's new business profit also showed an increase of 11 percent, totaling $3.08 billion. Although there were economic factors that kept the new business profit broadly flat when accounting for interest rates, the increase signifies a healthy pipeline for future profitability.

Future Projections
Looking ahead, Prudential anticipates a continued upward trajectory, expecting to grow new business profit and basic earnings per share by more than 10 percent for fiscal 2025. The plan to increase the dividend per share by at least 10 percent aligns with its positive growth outlook and further represents its commitment to returning value to shareholders.

Stocks:  PRU