Admiral lifts interim dividend payout after insurer's profits surpass £300m
Admiral shares surged to the top of the FTSE 100 this morning rising more than 10 per cent in early trading
Admiral shares soared to the top of the FTSE 100 leaderboard on Monday after the insurer reported a 32% rise in first-half pre-tax profit to £310 million.
Admiral's core motoring insurance business climbed a fifth to £359 million
The company said that operating profit for its core motoring insurance business climbed a fifth to £359 million, while its home insurance arm saw a 10% rise in operating profit to £75 million.
The strong results prompted Admiral to lift its interim dividend payout by 33% to 68p per share.
Analyst: Admiral's results are 'better than expected'
Analysts at Jefferies said that Admiral's results were "better than expected" and that the company's "strong momentum" is likely to continue in the second half of the year.
Shares in Admiral were up 11% to 3,123p in early trading, making the stock the top percentage gainer on the FTSE 100.
Admiral is a FTSE 100-listed insurer
Admiral is a FTSE 100-listed insurer that offers car, home, and travel insurance to customers in the UK, Europe, and the US.
The company is headquartered in Cardiff, Wales, and has over 10,000 employees worldwide.
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