prudential plc (PUKPF) Key Developments
Investors Reportedly Bid For stake In Associated British Ports
Mar 23 15
Investors are preparing competing offers for a major stake in Associated British Ports Holdings Limited ahead of the deadline for first-round bids this week. A 33% stake in the group, which owns and runs 21 ports throughout the UK, is up for grabs, after The Goldman Sachs Group, Inc. (NYSE:GS) and Prudential plc (LSE:PRU) put their portions of the company up for sale last year. Current shareholders Borealis Capital Corporation, and GIC Special Investments Pte. Ltd., the Singapore sovereign wealth fund, both with 33% stakes in the group, are set to take on an additional 7%. The remaining holding has reportedly caught the eye of British Telecommunications plc and the National Pension Service, which has entered a consortium with Canadian firm OPTrust Private Markets Group, Dutch fund APG and Gatwick-owner Global Infrastructure Partners.
Temasek Holding, Capital International, Carmignac And GIC Eye $300 Million Stake In ICICI Prudential
Mar 12 15
Temasek Holdings (Private) Limited, Carmignac Gestion S.A., Capital International and GIC Pte. Ltd. have lined up to acquire a 5% stake in ICICI Prudential Life Insurance Company Ltd. for $300 million from ICICI Bank Ltd. (BSE:532174) and Prudential plc (LSE:PRU).
Prudential plc Announces Unaudited Consolidated Earnings Results for the Full Year Ended December 31, 2014
Mar 10 15
Prudential plc announced unaudited consolidated earnings results for the full year ended December 31, 2014. For the period, the company reported long-term business operating profit of £3,233 million compared to £2,950 million a year ago. Profit before tax attributable to shareholders was £2,614 million compared to £1,635 million a year ago. Profit for the year attributable to shareholders was £2,216 million compared to £1,346 million a year ago. On an EEV basis, long-term business post-tax operating profit was £4,174 million compared to £4,249 million a year ago. Post-tax operating profit based on longer-term investment returns was £4,096 million compared to £4,204 million a year ago. Post-tax profit attributable to shareholders was £4,343 million compared to £4,358 million a year ago. IFRS basic earnings per share was 96.6 pence compared to 90.9 pence a year ago. EEV basic earnings per share was 160.7 pence compared to 165 pence a year ago. Basic earnings per share based on total profit after tax was 86.9 pence compared to 52.8 pence a year ago. on IFRS basis, Gross premiums earned was £32,832 million compared to £30.502 million a year ago. Total revenue, net of reinsurance was £60,126 million compared to £52,375 million a year ago. Profit before tax (being tax attributable to shareholders' and policyholders' returns) was £3,154 million compared to £2,082 million a year ago. Net cash flows from operating activities were £1,828 million compared to £1,324 million a year ago. Purchases of property, plant and equipment were £172 million compared to £221 million a year ago.
Prudential plc Recommends Final Dividend for the Year 2014, Payable on May 21, 2015
Mar 10 15
Prudential plc recommended a final dividend of 25.74 pence per share against 23.84 pence a year ago, which brings the total dividend for the year to 36.93 pence against 33.57 pence a year ago. The dividend is payable on May 21, 2015, to the shareholders with the record date of 27 March 2015. The ex-dividend date is 26 March 2015.
Prudential plc Announces Management Changes
Mar 10 15
Prudential plc announced that Tidjane Thiam, Group Chief Executive, has informed the board of his intention to step down in 2015 from his role as CEO and from the board. Mr. Thiam has agreed to join Credit Suisse as CEO. The company announced that it will promote its head of U.S. operations Mike Wells to the CEO post, succeeding Tidjane Thiam. Wells has served at Prudential's U.S. unit Jackson National Life Insurance for the past 20 years and has been a Prudential director for four years.