NBP beat driven by better 2H margin; expect FY24 DPS to continue growing by 7%-9%

M N 22 Mar 2024 CMB International Global Markets | Equity Research | Company Update Prudential Plc. (2378 HK) NBP beat driven by better 2H margin; expect FY24 DPS to continue growing by 7%-9% Prudential reported strong FY23 results with new business profit (NBP) jumping by Target Price HK$137.8 45% YoY (CER) to US$3.13bn, beating consensus by 6.4%, thanks to +3ppt NBP (Previous TP HK$143.00) margin expansion to 53% in full year. The Group’s NBP margin (NBM) sequentially Up/Downside 81.9% improved in 2H23 to ...