Aviva FY17 Operating Profit Up 2% - Quick Facts

(RTTNews) - Aviva plc (AV.L, AV) reported pretax profit of 2.37 billion pounds for the year ended 31 December 2017 compared to 1.83 billion pounds, previous year. Profit to equity holders increased to 1.50 billion pounds or 34.6 pence per share from 703 million pounds or 15.1 pence per share. The Group said the year-on-year movement reflects the one-off exceptional charge of 475 million pounds incurred in prior year as a result of the change in the Ogden discount rate, a reduction in integration and restructuring expenses and gains on divestitures, offset by a re-measurement loss of 118 million pounds arising from recent announcement to dispose of Friends Provident International, which has been measured at fair value.

Fiscal year operating profit increased 2% to 3.07 billion pounds, while operating earnings per share advanced 7% to 54.8 pence from 51.1 pence, prior year.

Fiscal year net earned premiums increased to 25.22 billion pounds from 22.87 billion pounds, previous year. Net investment income was 22.07 billion pounds compared to 30.26 billion pounds.

The Board of Directors has proposed a final dividend of 19.0 pence per share. This takes the full year dividend per share to 27.4 pence, an increase of 18%.

For fiscal 2018, the Group targets greater than 5% growth in operating EPS subject to the impacts from foreign exchange, weather and other items.