So is now the time to buy Admiral?
2012 was Admiral’s 20th anniversary and the company’s most successful year to date. Indeed, within the company’s full-year results released only last week, Admiral announced group profits were up 15% to 345 million pounds. However, the company did report a full-year loss of 24 million poundsfor its international operations.
Nonetheless, the majority of Admiral Group plc (LON:ADM)’s divisions performed strongly and profits from the company’s comparison website, confused.com, expanded by 13% during 2012.
Furthermore, Admiral Group plc (LON:ADM) is seeking to expand its international operations and diversify into new markets. For example, the company recently started offering home insurance to its U.K. customers as well as launch a new online comparison website focused on customers within the United States.
Unfortunately, despite Admiral’s special divided and solid growth last year, the firm currently looks expensive compared to its peers and near-term earnings growth. So overall, I believe now does not look to be a good time to buy Admiral at 1,357 pence.
The article Is Now the Time to Buy Admiral Group? originally appeared on Fool.com and is written by Rupert Hargreaves.
Rupert does not own any share mentioned in this article.
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