This Day On The Street
Continue to site
ADVERTISEMENT
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

Prudential's CEO Discusses Q4 2011 And FY 2011 Results - Earnings Call Transcript

Prudential plc (PUK)

Q4 2011 and FY 2011 Earnings Call

March 13, 2012 8:30 am ET

Executives

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 -

Analysts

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

Presentation

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs