M&G plc (MNG.L), a London-based savings and investment business company, on Wednesday reported a profit before tax attributable to equity holders in its first half, compared to prior year's loss, aided mainly by investment returns and fee income.
In the first half, profit before tax attributable to equity holders rebounded to 333 million pounds from a loss of 57 million pounds a year ago. Excluding tax charge attributable to policyholders' returns, profit before tax improved to 559 million pounds from 209 million pounds a year ago. On an after-tax basis, profit attributable to the equity holders rebounded to 243 million pounds from a loss of 62 million pounds a year ago.
Earnings per share swung to 10 pence from a loss per share of 2.6 pence in the prior year.
Net insurance and investment result climbed to 1.60 billion pounds from 766 million pounds a year ago. Insurance service result declined to 514 million pounds from 538 million pounds last year, reflecting higher insurance service expenses. Insurance revenue slightly improved to 1.986 billion pounds from 1.978 billion pounds a year ago. Further, the company declared an interim dividend of 6.7 pence per share, slightly higher than the 6.6 pence per share paid last year. The interim dividend is payable on October 17. On the LSE, the shares were trading 1.71% lower at 252.40 pence.
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