Admiral Reports Strong Financial Performance, Increases Dividend
Exceptional First Half Results
Admiral Group, a leading international insurance provider, has released its financial results for the first half of 2023, reporting strong performance across key metrics.
The company's profits surpassed £300 million, an increase of 12% compared to the same period in 2022. This growth was attributed to a rise in customer numbers and improved underwriting margins.
Dividend Hike
Admiral increased its interim dividend by 39p to 71p per share, reflecting its financial strength and commitment to shareholders.
The company also proposed a final dividend of 520 pence per share for 2022, subject to shareholder approval.
Earnings Surpass Forecasts
Admiral's earnings per share (EPS) reached 775p, exceeding analyst forecasts by 3%.
This performance was driven by increased premiums and improved investment returns.
Growth in Customer Base
Admiral's customer base grew by 12% year-over-year, demonstrating the company's continued ability to attract new clients.
This growth was driven by the company's focus on innovation and customer service.
Strong Financial Position
Admiral declared an interim dividend of 510 pence per share for 2022, reflecting its strong financial position.
The company's balance sheet remains robust, with ample liquidity and low leverage.
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