Prudential (2378) said its net profit in the first half fell 9.97 percent year on year to 1.36 billion pounds (HK$13.75 billion).Basic earnings per share were 52.7 pence.
The board has recommended an interim dividend of 15.67 pence, representing an 8.07 percent increase from 14.5 pence during the same period last year.
Total operating profit amounted to 2.41 billion pounds, 2 percent higher from a year earlier, based on actual exchange rate, while new business profit grew 5 percent to 1.77 billion pounds.
Asset management net inflows at M&G Prudential were robust with external net inflows of 3.5 billion pounds, while net inflows of 7.2 billion pounds were registered in 2017 in its wholesale/direct and institutional business.
In Asia, Prudential's total operating profit was 14 percent higher on the constant exchange rate, or 7 percent higher on an actual exchange rate basis at 1 billion pounds. The tally includes the 13 percent growth from Eastspring's asset management businesses. Asian annual premium equivalent fell 11 percent based on the actual exchange rate as new business increased 3 percent to 1.12 billion pounds.
In the US, its annual premium equivalent fell 15 percent and new business profit increased 7 percent. Total operating profit stood at 1 billion pounds, 7 percent lower based on an actual exchange rate basis.