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0 Comments | Western Mail (Cardiff, Wales), August 24, 2009

MOTOR insurance group Admiral reports back on half-year trading tomorrow with expectations high after it delivered a record profits haul for 2008.

The group’s UK business, which includes the brands Diamond, Bell and elephant.co.uk as well as comparison website Confused.com, gave cheer to both staff and investors after the bumper year with a pounds 4.5m shares bonus to employees and a 20% dividend hike.

It increased profits by 11% to pounds 202.5m last year and said turnover rose 13% to pounds 910m.

Admiral’s UK arm drove the improvement after customer numbers increased 15% to 1.59m and profits from car insurance lifted 27% to pounds 179.9m.

The Cardiff-based group also increased insurance rates by 4%, while it benefited from lower claims frequency.

Analysts are expecting the robust trading to have continued, although the consensus in the City is for slower profits growth in the six months to June 30, at 2% to pounds 102.7m.

This would represent a marked easing from the 11% annual growth and the 16% hike year-on-year at the interim stage last year.

Numis Securities analysts expect a lower profits contribution from Confused.com, which has been spending heavily on marketing to offset fierce competition in the comparison site sector.

In the full-year Confused’s profits fell 30% to pounds 25.6m and Numis expects half year profits to have fallen from pounds 13.7m to pounds 1.9m.

But the core business is said to be strong, with analysts at Merrill Lynch looking for growth in both motor rates and the number of insured vehicles.

“We expect a robust set of results that will affirm the strength of Admiral’s franchise,” said Merrill.

CAPTION(S):

GOING UP: Cardiff-based Admiral Insurance is set to post healthy profits when it reports tomorrow

Market Wire, November, 2009

MillerCoors recently announced a donation of
$1.3 million during the annual Thurgood Marshall College Fund (TMCF)
Leadership Institute and 22nd anniversary dinner weekend in New York City.
The dinner raised a record $6.2 million and these funds will be used to
assist in leadership development, programmatic support, scholarship and
capacity-building for the 47 public Historically Black Colleges and
Universities (HBCUs) served by the Fund. Over the past 22 years, the TMCF
has awarded more than $100 million in support of students attending public
HBCUs.

“As the founding corporate sponsor, MillerCoors recognizes the importance
of supporting the next generation of political leaders, entrepreneurs and
CEOs. And this donation is just an example of our continued and unwavering
commitment to encouraging the dreams and aspirations of students,” shared
Larry Waters, TMCF board member and MillerCoors director of multicultural
relations.

Also, during the Prestige Awards program, MillerCoors gifted a collection
of artwork to showcase in TMCF’s New York and Washington D.C. offices. As
a part of the historic “Gallery of Greats Calendar Series,” whose proceeds
supported the TMCF Fund, the 2003 collection, titled “Turning Dreams into
Reality,” acknowledged and celebrated the presidents of TMCF member HBCUs.

“Given the impetus for the program, it is fitting that this collection will
have a home at the Fund in honor of the legacies of outstanding African
Americans. As presidents and chancellors of TMCF schools, these honorees
helped direct the paths of future leaders and young professionals,” stated
Waters.

In addition to the financial support of the Fund, MillerCoors provides real
world experience for TMCF students through its summer internship program
with students interviewing on-site during this year’s career fair.
Students are considered for available positions in the corporate offices
and other locations of MillerCoors. “Our intern program provides an
extraordinary opportunity for selected students to attain that much needed
experience, as they manage real projects with the accountability and
responsibility for their success,” continued Waters. Interested students
can seek additional scholarship information by logging onto:
www.thurgoodmarshallfund.org .

About MillerCoors

Built on a foundation of great beer brands and more than 288 years of
brewing heritage, MillerCoors continues the commitment of its founders to
brew the highest quality beers. MillerCoors is the second largest beer
company in America, capturing nearly 30 percent of U.S. beer sales
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