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Admiral gets that sinking feeling as 'stormy waters' batter shares
Evening Standard
|March 08, 2023
FREE shares handed to Admiral staff quickly reduced in value today after the car insurer disappointed the City with profits from a year of "stormy waters".
The FTSE 100-listed stock slid 6% or 132p to 1956p, with the 2022 surplus of £469 million some 5% short of hopes as the company grappled with everything from FCA pricing reforms to increased claims frequency, adverse weather and inflation pressures.
Chief executive Milena Mondini de Focatiis said: "At times, over the last 12 months it has felt similar to sailing in the middle of a storm."
Diese Geschichte stammt aus der March 08, 2023-Ausgabe von Evening Standard.
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