Prudential Share Discussion Threads

[eric bristow] 28/10/2009 09:01

....now well positioned to benefit from the next stage of the economic cycle.'

The next stage is reality.

Short to 4.60

EB

[qantas] 28/10/2009 08:37

Shorters doomed to failure

US growth surge lifts Prudential
Business Financial Newswire
Insurer Prudential said today it has enjoyed a robust first nine months of the year with group-wide sales of £2.02bn. In the third quarter total retail sales were up 10% at £699m, with UK retail sales down 22% at £157m, but up 66% in the US.

The group said M&G Asset Management had net inflows of £2.9bn in the period, up 187%.

Tidjane Thiam, Group CEO, said: 'I am pleased to report strong Group-wide new business in the third quarter with total retail sales of £699m up 10% over the same period last year. This performance demonstrates the effectiveness of our strategy in what remains a challenging and fragile economic environment.

'In total, for the first nine months of the year, Group-wide retail sales were £2.017bn, 3% higher than the same period last year. Wholesale sales were held to minimum levels as we continued to focus on products with higher IRRs and shorter payback periods.

'In Asia, we achieved sales of £293m in the third quarter, up 4% on the third quarter last year on actual exchange rates. The third quarter of 2009 was the first quarter with positive year-on-year growth since the second quarter of 2008. Our new business sales of £846m for the first nine months of the year were down 9% on the same period in 2008, compared to a 15% fall at the half year, an improving performance in difficult market conditions. As a Group we remain well-positioned in the region, which we believe offers the best long-term profitable growth prospects.

'In the US, we continue to be one of the major beneficiaries of the significant changes in the competitive landscape. Jackson has delivered the highest level of retail sales for the first nine months of the year in the company's history, with sales of £640m, a 51% increase from the same period in 2008 on actual exchange rates. The momentum seen in the first half of the year has continued, with £249m of new business written in the third quarter, a 66% increase over the same quarter last year, demonstrating the strength and quality of our business model.

'In the UK, our disciplined approach to capital consumption led to retail sales of £531m in the first nine months of the year, down 13% on the same period last year. Our total new business sales were down 28% at £534m, reflecting the large bulk annuity transaction executed in the third quarter of 2008. We remain focused on our two key areas of strength; the with-profits and annuity markets.

'M&G continues to deliver strong investment performance and as a result has continued to outperform, with total net fund inflows of £11.1bn to the end of September, including £2.5bn in the third quarter alone. External funds under management have increased to £66.2bn, up 41% on the start of the year.

'Our Asian asset management business has been able to generate net inflows of £1.9bn to the end of September, double the 2008 performance, and has seen external funds under management increase by 23% during the year to £18.8bn.

'Our capital position continues to be strong with an estimated IGD surplus of £2.8bn, covering our minimum capital requirement 2.4 times.

'We believe that the economic environment will remain uncertain for a while. The Group has clearly demonstrated its strong defensive capabilities and is now well positioned to benefit from the next stage of the economic cycle.'

[shazzieb] 28/10/2009 07:57

Prudential lifted group-wide retail sales by 10% to £699m in the third quarter thanks largely to a surge in business in the US. Retail sales leapt 66% in the US to a record £249m, easily offsetting a 22% decline to £157m in the UK. Sales in Asia rose 4% to £293m.

[taffee] 28/10/2009 07:20

difficult to read results....no sign of the p&l account!(unless you can find it)

I assume they mad a loss/small profit again as I think I noted some more write-downs

[shazzieb] 27/10/2009 13:58

Nice spike ahead of trading statement tomorrow.

[smurfy2001] 25/10/2009 10:47

There are less houses on the market (according to rightmove) and interest rates are at the lowest. New house bulders will no doubt need to increase output next year to meet demand.

This means house prices will continue to rise, especially in the south.

Basically there is no bubble to pop at the moment.

This share has further to rise but i'm also investing more cash into AV., a multi-bag share.

[taffee] 25/10/2009 09:11

yes but things aren't better.....we have 10 x the debt as before the crisis based on too much debt.

underlying,things are worse than march 2009

houseprices are still 50% overpriced,companies are not being allowed to fail and interest rates are too low,which was also the problem before.

[stoxx67] 25/10/2009 07:49

hmmmmmm...equities were in a bubble late 1999 , early 2000.... certainly not in a bubble now... it's just a readjustment... they were sold off far too heavily in the crisis of the last 2 years... things slowly get a little better... hence the buying...

bubble ....certainly not...

[taffee] 25/10/2009 07:27

pru invests in equities,bonds and properties...all of which are in a bubble

[dark angel 3] 24/10/2009 15:19

Brokers have 700p plus targets.

Shorters, please keep shorting and burning so l can buy the stock cheaper.

Many thanks you dirty (shorting) dogs.

taffee,
Kindly refrain from posting, you are being burnt.

[taffee] 24/10/2009 15:14

everything is great now.....back to normal guys and girls..just one problem,we 'solved' a debt fuelled crisis with 10 x the debt!

nice!....to quote allistair darling 'david cameron is wrong about printing money..if we stopped doing that the economy would collapse'

fundamentals based rally then

[eric bristow] 22/10/2009 00:08

Expect drop to 4.60 over next month or so which really will perplex all the fund managers buying in at the top recently. No doubt their Christmas bonus will be unaffected however. Ho Ho Ho!

EB

[taffee] 12/10/2009 10:21

the 'slow return' seems pretty fast to me......to expect pru to return to 2007 levels when the economy is still in turmoil is irrational

There is huge risk which is completely ignored....anyway time will tell

[smurfy2001] 11/10/2009 22:40

Why has the market gone baserk taffee? The share is just slow returning back to it's highs.

They still pay a divi don't forget.

p.s., funny how you compare this to the dotcom, PRU is making money, most companies in the dotcom were overvalued and loss making!

LOL

[taffee] 09/10/2009 08:45

apparently fund managers are bidding stocks up where they missed on the rally to make their end year figures look good

highly risky game imo you can see how the dotcom boom happened

[taffee] 08/10/2009 08:36

no,I experienced it first hand,but it happened for a reason and that is that the uk and world economies are in big trouble and we are not out of it yet

pru invest in equities,bonds and property all of which are in a bit of a bubble

[uppompeii] 08/10/2009 07:40

Did you miss the correction last/this year taffee ?

[inv] 07/10/2009 21:03

A bid could come in shortly. Take out price could be between £9 and £10 DYOR

[qantas] 03/10/2009 11:52

You wish.
Just some short term consolidation.

[taffee] 03/10/2009 11:48

I think the markets are in big trouble.....life insurers get crushed double wammy

Price more likely to hit 400p