Six months ended 30 June 2007
| Notes | 30.06.07 £m |
30.06.06 £m |
Full year 2006 £m |
|
|---|---|---|---|---|
| From continuing operations | ||||
| Life and pensions | 4/5 | 551 | 456 | 1,030 |
| Investment management | 90 | 87 | 181 | |
| General insurance | 19 | (38) | 2 | 9 |
| Other operational income | 7 | (14) | 15 | 13 |
| Operating profit | 589 | 560 | 1,233 | |
| Variation from longer term investment return | 8 | 197 | 113 | 460 |
| Effect of economic assumption changes | 4 | (6) | (18) | 2 |
| Property income attributable to minority interests | 17 | 21 | 67 | |
| Corporate restructure | 15 | – | – | (216) |
| Profit from continuing operations before tax attributable to equity holders | 797 | 676 | 1,546 | |
| Tax charge on profit from ordinary activities | (218) | (198) | (422) | |
| Effect of UK Budget tax changes | 10 | 93 | – | – |
| Tax impact of corporate restructure | 15 | – | – | 322 |
| Profit from ordinary activities after tax | 672 | 478 | 1,446 | |
| Profit attributable to minority interests | 28 | (17) | (21) | (67) |
| Profit attributable to equity holders of the Company | 655 | 457 | 1,379 | |
| p | p | p | ||
| Earnings per share | ||||
| Based on operating profit from continuing operations after income tax attributable to equity holders | 6.62 | 6.19 | 13.45 | |
| Based on profit attributable to equity holders of the Company | 10.08 | 7.05 | 21.27 | |
| Diluted earnings per share | ||||
| Based on operating profit from continuing operations after income tax attributable to equity holders | 6.59 | 6.07 | 13.36 | |
| Based on profit attributable to equity holders of the Company | 10.03 | 6.89 | 21.12 |
This financial information was approved by the Board on 25 July 2007.
The results for the six months to 30 June 2007 and 30 June 2006 are unaudited, but have been subject to a review by the Group’s independent auditors and constitute non-statutory accounts within the meaning of Section 240 of the Companies Act 1985. The published full year 2006 supplementary financial information on the European Embedded Value (EEV) basis included an auditors’ report which was unqualified.
These figures have been prepared for covered business using the EEV basis. The International Financial Reporting Standards (IFRS basis) results are included within the following pages: