Admiral Group (ADM)

Sector:

Insurance

Index:

FTSE 100

2,200.00p
   
  • Change Today:
    -55.00p
  • 52 Week High: 2,330.00
  • 52 Week Low: 1,887.00
  • Currency: UK Pounds
  • Shares Issued: 294.04m
  • Volume: 786,147
  • Market Cap: £6,469m
  • RiskGrade: 242

Admiral H1 profits rise as UK household stages turnaround

By Frank Prenesti

Date: Wednesday 14 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Insurer Admiral said interim pre-tax profits rose 4% to £218.2m as it booked a £33m charge as a result of changes in the rate used to calculate personal injury claims payouts.
The company on Wednesday said its UK Insurance division recorded "modest" growth in turnover to £1.34bn, up from £1.32bn with customer numbers reaching 5.32m compared with 5.07m a year ago.

The Ministry of Justice in July announced that the so-called Ogden rate - used to calculate the likely investment return on compensation payouts - would rise from -0.75% to -0.25%. The total impact was expected to be between £50m - £60m, the company said.

Admiral's UK household insurance business swung to a £4.2m profit from a £1.9m loss last year, but the loss at its international insurance business widened to £2.7m from £0.6m.

The UK Insurance unit saw profits increased 3.1% to £254.7m, while motor insurance profit was up slightly to £251.7m from £249m.

The company declared an interim dividend of 63p a share, up 5%, representing a normal dividend of 41.8p a special payout of 21.2p.

Admiral's combined ratio moved to 92.3% from 87.4% a year earlier. Underwriting profit rose 2.8% to £96m year on year.

"If it's a can't-put-down, read-in-one-go page-turner that you're after, then I'm afraid our half-year results don't fit the bill. Frankly, they are a bit dull. Turnover up mid-single digits, profit up low-single digits. Hardly 'hold the front page'," said chief executive David Stevens in a departure from the usual dry statement offered by companies.

"However, for dedicated aficionados who look behind the headlines, there's some reward for reading on. Profit growth, even if modest, is more exciting considering the £33m Ogden headwind. Low growth in UK Motor policy count reflects a consciously reduced competitiveness, as we price rationally in the face of any rising claims costs across the market as a whole.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Admiral Market Data

Currency UK Pounds
Share Price 2,200.00p
Change Today -55.00p
% Change -2.44 %
52 Week High 2,330.00
52 Week Low 1,887.00
Volume 786,147
Shares Issued 294.04m
Market Cap £6,469m
RiskGrade 242

Admiral Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.93% below the market average83.93% below the market average83.93% below the market average83.93% below the market average83.93% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average
Price Trend
87.31% above the market average87.31% above the market average87.31% above the market average87.31% above the market average87.31% above the market average
83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average
Income
29.25% above the market average29.25% above the market average29.25% above the market average29.25% above the market average29.25% above the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Growth
76.96% above the market average76.96% above the market average76.96% above the market average76.96% above the market average76.96% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 9
Sell 1
Strong Sell 4
Total 17
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Admiral Dividends

  Latest Previous
  Final Special
Ex-Div 07-May-20 07-May-20
Paid 01-Jun-20 01-Jun-20
Amount 56.30p 20.70p

Trades for 03-Apr-2020

Time Volume / Share Price
16:37 19,712 @ 2,200.00p
16:35 254,875 @ 2,200.00p
16:29 11 @ 2,201.00p
16:29 36 @ 2,201.00p
16:29 100 @ 2,201.00p

Admiral Key Personnel

CEO David Stevens
Chair Annette Court
CFO Geraint Jones

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