Though it endured some choppy waters, the motor insurance firm just about managed to eke out some growth in 2018. Opening at £19.97, it had climbed to £20.36 by the end of the year, posting a lukewarm 2% increase over the 12 months.
It has crossed into the fast lane in 2019, however. Surging to a current trading price of £21.81, it has already risen 7.8% this year, meaning investors may be looking for justification on Thursday.
The company’s last proper update actually came all the way back in August, when it revealed its half year results. Despite that period’s bad weather impacting its household division, Admiral still managed to post a 9% rise in statutory profit before tax to £211 million, a 7% increase to its interim dividend to 60p per share, and a 14% jump in group turnover to £1.66 billion. This as its UK car insurance business passed the 4 million mark for cars on cover (it was a Peugeot 108, fact fans).
In terms of Thursday’s full year results, analysts are expecting Admiral to post a 9% increase to its full year dividend. Investors will also be after the now-requisite update on not only the impact of Brexit, but any idea of what will happen after the fact, especially since the company has a substantial European business.
Admiral Group PLC (LON:ADML) has a consensus rating of ‘Hold’ alongside an average target price of £20.13.
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