M&G plc full year 2023 results
Strong financial results underpinned by diversified business model. Continued progress on strategic priorities and business targets.
Highlights include:
- M&G has published a strong set of results for 2023, despite continued macroeconomic uncertainty.
- We increased our adjusted operating profit before tax to £797 million - up 28% year-on-year.
- We have announced a total ordinary dividend of 19.7 pence per share for 2023.
- Our focus on our clients, the attractiveness of our products, services and investment performance has driven positive net external client inflows of £1.1 billion for Asset Management and Wealth.
- Wholesale Asset Management has performed strongly delivering net inflows of £1.5 billion - an outstanding result made possible by the relevance and performance of our fund range.
- Client outcomes in Asset Management were strong across both the Institutional and Wholesale franchise. As of 31 December 2023, 64% of our mutual funds ranked in the upper two performance quartiles over three years and 69% over five years.
- Delivered net client inflows of £0.2 billion in Wealth underpinned by UK PruFund sales of £6.3 billion, the highest level since 2019. This is 17% higher than in 2022.
- Despite volatile markets, we have improved our Shareholder Solvency II Ratio to 203%.
M&G is well positioned to navigate the current uncertain economic climate due to its diversified business model, international footprint, compelling products and services, investment capabilities and expertise.
The 2023 Full Year Results underpin our continued confidence in the delivery of our strategic priorities and financial targets, as we remain focused on transforming M&G to deliver great client and shareholder outcomes.
Our strategic priorities are clear: Maintain our financial strength, build on the progress already achieved in simplifying the business, better align to client needs, and deliver profitable growth in the UK and internationally.
M&G plc full year 2023 results – M&G plc (mandg.com)