First-half annual premium equivalent (APE) sales came in at $3.4bn ($3.5bn expected), up 3% ignoring currency moves.
Underlying operating profit was up 9% to $1.8bn (as expected), while new business profit rose 8% to $1.4bn as margins improved 2 percentage points to 40.4%.
The asset management business, Eastspring, saw funds under management rise 5% since the start of the year to $291bn.
The free surplus ratio, its preferred measure of balance sheet strength, was 209% at the end of the period (175-200% target range).
A first interim dividend of 8.88 cents per share was announced, up 15%. The group also added around $0.3bn to its $1.2bn buyback programme for 2026, with a further $1.3bn indicated for 2027.
Full-year guidance was maintained, looking for double-digit growth in new business profit.
The shares fell 1.1% in early trading.
Our view
HL view to follow.
Prudential key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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