Admiral Group plc announces a strong annual result with Group profit before tax of £357 million for the year to December 2014.
Admiral Group plc announces a strong annual result with Group profit before tax of £357 million for the year to December 2014..
2014 Preliminary Results Highlights
|Group profit before tax*||£357 million||£371million||-4%|
|Earnings per share||103.0 pence||104.6 pence||-2%|
|Full year dividend||98.4 p/share||99.5 p/share||-1%|
|Return on equity||52%||58%||-3%|
|Group turnover||£1.97billion||£2.03 billion||+10%|
|Group customers||4.05 million||3.70 million||+10%|
|International car insurance|
|Turnover||£206 million||£188 million||+10%|
Over 7,000 staff each receive free shares worth £3,000 in the employee share scheme based on 2014 full year results
[*] Represents Group's share of profit before tax excluding Minority interests
Comment from Henry Engelhardt, Group Chief Executive Offaicer
"Admiral Group's 2014 was the year of the Baked Alaska ‐ hot and cold in a single bite. The hot? Profits emerging from our international insurance businesses, in ConTe in Italy, and record profits at Rastreator and LeLynx, our price comparison businesses in Spain and France, respectively. The cold? For the first time since we went public, Admiral Group did not post a record profit, but we still made a lot of money, had an enviable 52% return on equity and distributed 95% of our after‐tax profits to our shareholders."
The Directors have proposed a final dividend of 49.0 pence (22.5 pence normal and 26.5 pence special) per share, to be paid on 29 May 2015. The ex‐dividend date is 7 May 2015 and the record date 8 May 2015.
Analysts and investors will be able to access the Admiral Group management presentation which commences at 11.00 GMT on Thursday 5 March 2015 by dialling + 44 (0)20 3059 8125. A copy of the presentation slides will be available at www.admiralgroup.co.uk.