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Aviva IFRS profit after tax rose 2 percent to 1.69 billion pounds

Staff Writer | March 7, 2019
Aviva reported pre-tax profit of 1.65 billion pounds for the year ended 31 December 2018, down from 2.37 billion pounds in the previous year.
Aviva
Aviva   Fiscal year adjusted operating profit increased 2% to 3.12 billion pounds
However, IFRS profit after tax rose 2 percent to 1.69 billion pounds from 1.65 billion pounds last year. Profit to equity holders increased to 1.57 billion pounds or 37.8 pence per share, from 1.50 billion pounds or 34.6 pence per share last year.

Fiscal year adjusted operating profit increased 2% to 3.12 billion pounds, while operating earnings per share advanced 7% to 58.4 pence from 54.8 pence in the prior year.

Fiscal year net earned premiums increased to 26.25 billion pounds from 25.22 billion pounds in the previous year.

Aviva board of directors has proposed a final dividend of 20.75 pence per share. This takes the full year dividend per share to 30.0 pence, an increase of 9% from last year.

Looking ahead, Aviva said it plans to reduce debt by at least 1.5 billion pounds by the end of 2022, saving approximately 90 million pounds per year in interest expenses.

Aviva also said that given the current uncertainties, including the unknown future impacts of Brexit on the economies of the United Kingdom and Europe, its near-term outlook entering 2019 is more muted than its outlook a year ago.

Aviva noted that while it achieved 7 percent operating earnings per share growth in each of the past two years, it will be difficult to sustain this momentum in 2019.


 

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