Experienced Investor
Stock of the Week: Prudential
This week’s share of the week is British life insurance and financial services company Prudential amid the rumours that a Chinese financial services group is considering a bid for Prudential’s Asian business.
Interim results in August reported a 9% increase in operating profit to £2.4bn and once again the CEO highlighted that performance had again been led by Asia, where profits were up by 7%.
The demographics of many Asian regions, and the rise of the middle class, should provide a good growth story for Prudential for some time to come.
Overall capital solvency surplus rose to £14.4bn and the group raised its dividend by 8% to 15.67 pence and while the dividend yield is modest compared to its peers, this is set to grow over the years.
We continue to recommend Prudential as a low to medium risk long-term ‘buy’ for investors looking for a positive investment idea that spans a number of regions.
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