By Sherry Qin


Prudential PLC's adjusted operating profit rose in 2023, beating analysts' consensus forecast amid lower central costs and higher earnings from Eastspring, its asset management business.

The insurance-and-investment business said Wednesday that its IFRS-adjusted operating profit was $2.89 billion, up from $2.72 billion in 2022.

The result was slightly higher than market expectations of $2.88 billion, according to a company-compiled consensus.

Prudential's new-business profit increased 45% to $3.125 billion, which the company attributed to its shift of focus to Asia and African markets.

The company declared a full-year dividend of 20.47 cents a share, higher than the consensus of 20.32 cents a share.

Earlier last year, Prudential set a new goal to grow its new-business profit to between $4.4 billion and $5.4 billion by 2027.

Chief Executive Anil Wadhwani said the company is confident about achieving its 2027 financial and strategic objectives after a strong year and continued sales growth in the first two months of 2024.


Write to Sherry Qin at sherry.qin@wsj.com


(END) Dow Jones Newswires

03-20-24 0054ET