Admiral Group plc Results for the Year Ended 31 December 2013
Admiral Group announces profit before tax of £370 million for the year to December 2013, an increase of 7% over the previous year. The Board is proposing a final dividend for 2013 of 50.6 pence per share, to be paid on 30 May 2014.
2013 Preliminary Results Highlights
- Group profit before tax up 7% at £370 million (2012: £345 million)
- Earnings per share up 10% at 104.6 pence (2012: 95.1 pence)
- Final dividend of 50.6 pence per share bringing the 2013 total dividend to 99.5 pence per share, up 10% (2012: 90.6 pence per share)
- Group turnover down 8% at £2.03 billion (2012: £2.22 billion)
- Group vehicle count up 4% to 3.70 million (2012: 3.55 million)
- Positive UK claims development led to an increase in reserve releases whilst reserve conservatism was maintained
- 7,000 staff will share £10.5 million of shares through the employee share scheme
Comment from Henry Engelhardt, Group Chief Executive Officer
"2013 was the year of the baked potato. It was a good, solid year, something on the plate that is appreciated but doesn't really grab the spotlight. This is a comfort food set of results.
