PUKPF - Prudential plc (PUK) H2 2023 Earnings Call Transcript
2024-03-20 13:19:09 ET
Prudential plc (PUK)
H2 2023 Earnings Conference Call
March 20, 2024, 04:30 AM ET
Company Participants
Patrick Bowes - Investor Relations
Anil Wadhwani - Chief Executive Officer
Ben Bulmer - Chief Financial Officer
Dennis Tan - Managing Director of Strategic Business Group,
Lilian Ng - Managing Director of Strategic Business Group, China, Hong Kong and Taiwan
Solmaz Altin - Managing Director of Strategic Business Group, India, Indonesia, Malaysia, Philippines, Laos, Myanmar, Cambodia and Africa
Conference Call Participants
Michael Chang - CGS-CIMB
Charles Zhou - UBS
Edwin Liu - CLSA
Farooq Hanif - JPMorgan
Kailesh Mistry - HSBC
Andrew Sinclair - Bank of America
Michelle Ma - Citigroup
Larissa Van Deventer - Barclays
Andrew Crean - Autonomous
William Hawkins - Keefe, Bruyette & Woods
Dominic O'Mahony - BNP Paribas Exane
Presentation
Operator
Hello everyone and welcome to Prudential's Full Year 2023 Results Q&A Event. [Operator instructions]. I will now hand the floor over to Patrick to begin. Please go ahead.
Patrick Bowes
Thank you, Sebastian, and welcome to everyone. We're going to just have a short address by Anil to start and then we'll go straight into questions-and-answers. Sebastian will explain to those on the call how to log their questions, but I'll pass over to Anil to kick off.
Anil Wadhwani
Thank you, Patrick. Good morning. Good evening, ladies and gentlemen. Very warm welcome to the 2023 full year results for Prudential. I'm Anil Wadhwani. I'm the CEO for Prudential. And it's indeed my honor and pleasure to be welcoming you today.
Earlier today, we announced our results. We are delighted with the strength of our performance. I thought the results were excellent, both on operational grounds as well as the financial performance that we delivered in 2023. Our sales came in at $5.9 billion for the full year, up by 37%.
Our new business profits came in at $3.1 billion, up 45%. 17 out of the 22 markets were able to register new business profit growth, 12 of them on a double digit basis. The margins held up. In fact, they improved by four percentage points. X economics and our IFRS earnings came in at $2.9 billion, up 8% year-on-year. So clearly a very strong set of results....
Prudential plc (PUK) H2 2023 Earnings Call Transcript