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Share Centre share of the week: Prudential
“This week, international provider of insurance and investment products, Prudential is our share of the week for investors. The group delivered a strong set of half year results, beating expectations and improving on key areas of activity. Operating profits rose 17% to £1.88bn, with Hong Kong seeing a remarkable 84% surge in sales in the first half. Additionally the company’s Eastspring fund management group, based in Asia, reported inflows of £4.6bn in the first half, taking its total assets to a record £85.3bn. This represents a 28% increase over last year, further demonstrating that the region remains the main driver of growth for the company. Investors should also acknowledge that the UK and US life businesses delivered healthy profit growth, whilst its investment group M&G saw operating profits increase 11%.
“Current investors will appreciate that the interim dividend was lifted 10% to 12.3p. We are recommending Prudential group as a ‘buy’ for those looking for a positive investment that will span a number of regions. The Asian growth story continues to remain highly attractive, along with strong UK and US operations.”
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