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Prudential will announce its full-year figures on 9 March, and traders are anticipating revenue of £59.9 billion and an adjusted net income of £2.78 billion. These forecasts equate to a marginal drop in revenue and an 11.51% decline in adjusted net income. The company will also reveal its second-half numbers on the same date, and investors are expecting an operating profit of £1.89 billion.
Profits are still rising at Prudential but there are a few signs the turmoil in global financial markets and the uncertainty in the world economy are taking its toll on the share price. Prudential did very well over the years by tapping into the Chinese middle class. The business performed well so far this year – but there has been a slowdown in sales in the latest quarter as the outlook in China is no longer as positive as it once was.
China is not the only country in the region that is cooling down, Indonesia and Singapore are also coming off the boil and this also had a negative impact on Prudential’s business. Traders associate Prudential with Asia, and as the region moves towards a soft landing the stock will be under pressure. To make matters worse, Prudential’s US business is also experiencing lower sales. The volatile moves in the financial markets has prompted investors to withdraw cash from the company’s fund management arm which is adding to its problems.