Asia Lifts Prudential Earnings

Prudential, a founding stakeholder of Asia House, posted record profits Tuesday on the back of Asian operations. The company increased operating profit in Asia by 15 percent to 1.6 billion pounds.

However, operating profit at Prudential’s UK business declined by 31 percent to 828 million pounds due to regulatory charges, reports Reuters

Overall operating profit rose 7 percent from a year earlier and was above analysts’ expectations.

Prudential CEO Mike Wells said in a CNBC interview, said there was huge consumer demand in Asia driving growth in services such as heathcare and wealth protection with ‘earnings up and cash generation up, lead by Asia, translating to a 12.5 percent increase in dividends’.

The results defy the China slowdown message, signalling that Asian markets for services are weathering global economic and political headwinds.