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Admiral profit rises 15% in 2012

Publish Date06/03/2013 09:46:20 AM

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Admiral profit rises 15% in 2012

Admiral Group Plc (ADM) U.K.’s motor insurer said that pre-tax profit rose 15 percent to 345 million pounds for the year ended December 2012, higher compared to 299 million pounds in 2011.

Admiral’s net income rose 17 percent to 258.4 million pounds in 2012, International sales rose 33 percent to 163 million pounds while customer numbers rose 42 percent in that business.

The Cardiff-based group plans to increase dividend to 90.6 pence a share, beating the analysts’ estimate of 85.8 pence, while about 6,500 staff will get free shares worth 3.000 pounds in the employee share scheme.

As of 04:16 ET, Admiral Group PLC share rose 4.97 percent or 62.000 points to 1,329.000 pounds.

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