Menu
26/02/2002
Trimmed down Prudential report rise in revenue
The UK insurance company Prudential has reported a 54 per cent rise in insurance and investment revenues.
The Prudential unveiled that insurance and investment had risen to £21.5 billion for the whole of last year. The group said expansion during the year helped lift its operating profits to £1.19 billion, up 15 per cent, after restructuring costs.
More than 60 per cent of Prudential's sales and new business were attributed to profits from outside the UK.
While the company's profit margins have been under pressure in its home market, late last year it cut a quarter of its insurance workforce in the UK having already reduced its direct sales staff by 2,000 earlier in 2001.
Internationally, the Prudential's strong Asian performance helped compensate for falling earnings in the US, after US subsidiary, Jackson National Life suffered a fall in profits due to $532m losses from its stricken bond investment portfolio.
(MB)
The Prudential unveiled that insurance and investment had risen to £21.5 billion for the whole of last year. The group said expansion during the year helped lift its operating profits to £1.19 billion, up 15 per cent, after restructuring costs.
More than 60 per cent of Prudential's sales and new business were attributed to profits from outside the UK.
While the company's profit margins have been under pressure in its home market, late last year it cut a quarter of its insurance workforce in the UK having already reduced its direct sales staff by 2,000 earlier in 2001.
Internationally, the Prudential's strong Asian performance helped compensate for falling earnings in the US, after US subsidiary, Jackson National Life suffered a fall in profits due to $532m losses from its stricken bond investment portfolio.
(MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
07 August 2001
BASF issue another profits warning
Chemicals giant BASF have issued another profits warning as second quarter results revealed a drop in profits of euro 131 million, down around 15 per cent on the same period in 2000. The interim report noted that in 2001 BASF were expecting a decline in income from operations from ongoing business”.
BASF issue another profits warning
Chemicals giant BASF have issued another profits warning as second quarter results revealed a drop in profits of euro 131 million, down around 15 per cent on the same period in 2000. The interim report noted that in 2001 BASF were expecting a decline in income from operations from ongoing business”.
05 April 2002
Prudential pay increase comes in for criticism
UK insurer Prudential has come under attack after it emerged that its board awarded itself a 44 per cent pay rise in 2001, while most of the company's staff got less than four per cent.
Prudential pay increase comes in for criticism
UK insurer Prudential has come under attack after it emerged that its board awarded itself a 44 per cent pay rise in 2001, while most of the company's staff got less than four per cent.
02 November 2001
BSkyB profits rise while subscriptions fall
BSkyB have reported a 23 per cent rise in operating profits for their first quarter, but admit that subscriber numbers are lower than predicted. The company's losses have diminished after operating profits for the three months ended September came in at £45 million.
BSkyB profits rise while subscriptions fall
BSkyB have reported a 23 per cent rise in operating profits for their first quarter, but admit that subscriber numbers are lower than predicted. The company's losses have diminished after operating profits for the three months ended September came in at £45 million.
30 August 2001
Hilton Group report 33 per cent rise in profits
The UK hotels and leisure company Hilton Group has reported a one thid rise in profits for the first six months of the year. The company’s profits, which rose by 33 per cent to £144.3 million, improved despite the recent problems besetting the British tourist industry such as an economic slowdown and the outbreak of foot-and-mouth disease.
Hilton Group report 33 per cent rise in profits
The UK hotels and leisure company Hilton Group has reported a one thid rise in profits for the first six months of the year. The company’s profits, which rose by 33 per cent to £144.3 million, improved despite the recent problems besetting the British tourist industry such as an economic slowdown and the outbreak of foot-and-mouth disease.
24 August 2001
Shorts reveal rise in profits
The Belfast aerospace company, Shorts, have announced a rise in profits of six per cent over the past year. The firm also made a total of £57 million while sales rose by around 25 per cent to £500 million due to the buoyant markets for regional and business aircraft.
Shorts reveal rise in profits
The Belfast aerospace company, Shorts, have announced a rise in profits of six per cent over the past year. The firm also made a total of £57 million while sales rose by around 25 per cent to £500 million due to the buoyant markets for regional and business aircraft.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
