Admiral Group today releases its Interim Management Statement covering the period 1 January to 6 May 2011.
Henry Engelhardt, Admiral Chief Executive comments :
“I’m pleased to report that our business has continued to grow and prosper in the first quarter of the year. Admiral’s UK car insurance business had another great quarter and has continued to benefit from positive market conditions. We grew rapidly and were also able to raise premiums. We continue to remain focussed on maintaining the quality of our business.”
The groups turnover increased by 56 percent to 539 million GBP and a group vehicle count increased 33 percent to 2.9 million. Confused.com turnover remains stable with margins under pressure.
Overall the group’s financial position remains strong and performance at this moment should at least meet analyst’ estimate for 2011.
Admiral also confirmed that its 2010 final normal dividend of 17.3p per share and final special dividend of 18.2p per share (total 35.5p per share) will be paid on 10th June 2011. The ex-dividend date is 18 May 2011 and the record date is 20 May 2011.
This brings the total dividend for 2010 to 68.1p per share being 32.4p normal dividend and 35.7p special dividend.
