Admiral Group plc announces a record Group profit before tax of £377 million for the year to 31 December 2015

2015 Preliminary Results Highlights                       

                                                            2015                            2014                       % change

Group profit before tax                 £377 million                £357 million                +6%

Earnings per share                        107.3 pence                103.0 pence                +4%

Full year dividend                          114.4 p/share             98.4 p/share                +16%

Return on equity                           49%                             52%                            

Group turnover                             £2.12 billion                £1.97 billion                +8%

Group customers                           4.43 million                 4.05 million                 +9%

UK customers                                3.30 million                 3.15 million                 +5%

International car insurance

Turnover                            £232 million                £206 million                +13%

Customers                         673,000                       592,600                       +14%

 

Over 8,000 staff receive free shares worth a total of £3,600 each under the employee share scheme based on the full year 2015 results

 

Comment from Henry Engelhardt, Group Chief Executive Officer

“I would describe 2015 as: the year of the uncut diamond. When the year started many people thought it would turn out to be a lump of coal. But no, 2015 was no lumpy coal year.

A lot of good things happened in 2015. The work we did on the UK business in terms of rate increases ahead of the market and the continued attention to operational detail amongst other things, all led to an excellent economic outcome. Following on from the success last year of our Italian business, ConTe, which made another small profit in 2015, the break-even result (underwriting year basis) in Admiral Seguros was also a great achievement.”

 

Dividend

The Directors have proposed a final dividend of 63.4 pence, representing a normal dividend of 33.6 pence per share and a special dividend of 29.8 pence per share.  The special dividend of 29.8 pence per share includes 11.9 pence per share, reflecting the first element of a phased return of surplus capital given the Group’s Solvency II capital position. The final dividend will be paid on 3 June 2016.  The ex-dividend date is 12 May 2016 and the record date is 13 May 2016.

 

Management presentation

Analysts and investors will be able to access the Admiral Group management presentation which commences at 9.00 GMT on Thursday 3 March 2016 by dialling + 44 (0)20 3059 8125.  A copy of the presentation slides will be available at www.admiralgroup.co.uk

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