Prudential Jumps to Record as Profit Beats Forecasts on Asia
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Prudential Plc surged to a record in London trading after the U.K.’s biggest insurer by market value reported first-half profit that beat analyst estimates, buoyed by rising sales in Asia and a jump in U.S. earnings.
Operating profit climbed 22 percent to 1.42 billion pounds ($2.2 billion) in the first six months, the London-based insurer said in a statement today. That beat the 1.3 billion-pound estimate of 17 analysts provided by the company. The stock surged to the highest since at least 1988 as the firm raised its dividend and posted record profit for its fund management unit.