Prudential net profit rises 41.1% to $2.4b in FY 2024

EPS stood at $0.897.

Prudential plc’s fiscal year 2024 (FY 2024) IFRS profit after tax surged 41.1% year-on-year (YoY) to $2.4b.

New business profit rose 11% YoY to $3.08b and adjusted operating profit before tax up 10% YoY to $3.13b. 

Earnings per share grew 8% YoY to 89.7 cents, whilst the total dividend increased 13% to 23.13 cents per share.

CEO Anil Wadhwani highlighted Prudential’s progress in operational efficiency and its strong positioning in Asia and Africa’s growing markets. 

For 2025, the company expects new business profit, earnings per share, and operating free surplus to grow by more than 10%, with a dividend increase of at least 10%. 

Prudential is also accelerating its $2b share buyback program, set to be completed by the end of 2025.