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Admiral Group's H1 profit before tax up YOY

Admiral Group PLC reported group share of profit before tax of £220.2 million in the first half, up from £211.7 million a year earlier.

Group statutory profit before tax rose 4% year over year to £218.2 million from £210.7 million. EPS increased to 63.0 pence from 61.6 pence. Return on equity was 47%, versus 54% in the prior-year period.

Group net revenue rose to £650 million from £600 million. The company's post dividend solvency ratio was 190% as of June 30, versus 196% as of June 30, 2018.

Admiral said the adverse impact of the recent announcement of the new Ogden rate of minus 0.25% on the first-half result was £33.3 million.

Group combined ratio was 92.3% versus 87.4% a year ago.

The board declared an interim dividend of 63.0 pence per share, versus 60.0 pence per share a year ago. The interim dividend consists of a normal dividend of 41.8 pence per share and a special dividend of 21.2 pence per share.

The dividend will be paid Oct. 4. The ex-dividend date is Sept. 5 and the record date is Sept. 6.