Prudential bounces back from failed takeover with 41 per cent profit boost
August 13, 2010
Noah Bardsley
Prudential has pleased its investors with a profitable result despite losing billions of pounds in June following the failed AIA takeover bid. Just two months ago the insurer lost £24 billion when its bid to takeover AIG’s Asian business fell through after shareholders failed to support the acquisition. But yesterday their fortunes were reversed when they announced profits of 968 million for the first half of 2010, a 41 per cent surge and higher than analysts’ predictions. The good news means that dividend payments for Prudential’s shareholders will rise by 5 per cent. Speak Read more…