British insurance company Prudential announced first-half net profits jumped by almost 15 per cent, boosted as Asian growth offset an uncertain economic climate.
Earnings after taxation climbed to £952 million ($1.5 billion, 1.2 billion euros) in the six months to June from £829 million in same period a year earlier, the London-listed company said in a results statement.
“Prudential has produced a strong performance during the first six months of 2012 … despite the considerable global macroeconomic challenges,” chief executive Tidjane Thiam said in the statement.
Operating profit, or earnings before tax and interest payments, rallied 13 per cent to £1.16 billion in the reporting period. Thiam added: “We manage our business so that it is resilient in times of economic and financial market stress, and our track record through the crisis is evidence of this.
“Our balance sheet remains defensively positioned and we continue to capitalise on the long-term growth opportunities available to us.
“Those opportunities are most evident in southeast Asia, where the depth and breadth of Prudential’s franchise is a source of strength.”
London, Aug 10, 2012 (AFP)
