This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Prudential Plc's CEO Discusses 2011 Results - Earnings Call Transcript

Stocks in this article: PUK

Prudential plc (PUK)

2011 Earnings Call

March 13, 2012 8:30 am ET


Tidjane Thiam - Group Chief Executive and Executive Director

Nicolaos Andreas Nicandrou - Chief Financial Officer and Executive Director

Unknown Executive -

Michael Andrews Wells - Vice Chairman, Chief Executive Officer and President

Chad Tendler -

John William Foley - Group Chief Risk Officer, Group Treasurer, Executive Director and Chief Executive Officer of Prudential Capital

Rob Devey - Director and Chief Executive Officer of Prudential UK & Europe

Michael McLintock -


Raghu Hariharan - Citigroup Inc, Research Division

Andrew Hughes - Exane BNP Paribas, Research Division

Jon Hocking - Morgan Stanley, Research Division

James Pearce - UBS Investment Bank, Research Division

Toby Langley - Barclays Capital, Research Division

Nick Holmes - Nomura Securities Co. Ltd., Research Division

Andrew Crean - Autonomous Research LLP

Blair Stewart - BofA Merrill Lynch, Research Division

Unknown Analyst

William Elderkin - Societe Generale Cross Asset Research


Tidjane Thiam

All right, ladies and gentlemen. Welcome to our full year results presentation. I hope that you had something to eat. I apologize, because I know it's a long day and you've heard you've already done another company's results, but we have, once again, a large number of slides, so I hope that you're sitting comfortably. We'll take them -- take you through them slowly between Nic and I, but it's going to take probably the better part of an hour. So we are going to present first, a highlight of our results for 2011. We will then give you an update on our progress towards our 2013 objectives that we've called growth in cash and talk about the performance in turn, of each our businesses, starting with Asia then Jackson, then the U.K. and M&G. And then I'll hand over to Nic, who will cover the financials in more detail before coming back to talk about the outlook. We will then, of course, take your questions, if you still have any energy left.

The executive team, and a number of key people from our operations across the world are here today and we all look forward to operative dialogue with you. So I'll begin with the headline numbers, which you've seen now, picking out a few. For the first time, we have delivered IFRS profit of over GBP 2 billion. We have EV operating profit of almost GBP 4 billion and EBIT per share now stands at 771p. And we have remitted over GBP 1 billion -- GBP 1,105,000,000 of net cash remittances from the businesses to a center, again, a first in our history.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs