Prudential Plc 2019 Adj. Operating Profit From Cont. Ops Up 20%

(RTTNews) - Prudential PLC (PRU.L) reported that 2019 adjusted operating profit from continuing operations improved 20% to $5.31 billion from $4.409 billion in 2018. IFRS profit after tax from continuing operations for the year declined to $1.95 billion from $2.88 billion in 2018.

Prudential said it continues to monitor closely the development of the coronavirus outbreak. The company said it remain confident in the medium to long-term prospects of economies and respective insurance sectors, as coronavirus outbreak has slowed down economic activity in the year to date and dampened its sales momentum in Hong Kong and China.

Mike Wells, Prudential plc's Group Chief Executive, stated, "We have delivered another positive performance during 2019, despite significant macroeconomic and geopolitical volatility."

In addition, Prudential stated that it is preparing for a minority initial public offering of its Lansing, Michigan-based US business Jackson.

The company plans to provide an update at its half-year results on August 11, 2020.