European Embedded Value (EEV) basis results
Condensed consolidated income statement
Download Condensed consolidated income statement as Excel file
| 2008 £m | 2007* £m | 2007* £m | |
|---|---|---|---|
| Half year | Half year | Full year | |
| * See note 10. | |||
| Asian operations | 579 | 520 | 1,103 |
| US operations | 360 | 351 | 635 |
| UK operations: | |||
| UK insurance operations | 504 | 462 | 859 |
| M&G | 146 | 140 | 254 |
| 650 | 602 | 1,113 | |
| Other income and expenditure | (144) | (155) | (301) |
| Restructuring costs | (15) | 0 | (20) |
| Operating profit from continuing operations based on longer-term investment returns | 1,430 | 1,318 | 2,530 |
| Short-term fluctuations in investment returns | (1,949) | 241 | 174 |
| Mark to market value movements on core borrowings | 171 | 113 | 223 |
| Shareholders' share of actuarial gains and losses on defined benefit pension schemes | (98) | 39 | (5) |
| Effect of changes in economic assumptions and time value of cost of options and guarantees | (189) | 275 | 748 |
| (Loss) profit from continuing operations before tax (including actual investment returns) | (635) | 1,986 | 3,670 |
| Tax attributable to shareholders' (loss) profit | 162 | (521) | (927) |
| (Loss) profit from continuing operations for the period after tax before minority interests | (473) | 1,465 | 2,743 |
| Discontinued operations (net of tax) | - | 241 | 241 |
| (Loss) profit for the period | (473) | 1,706 | 2,984 |
| Attributable to: | |||
| Equity holders of the Company | (475) | 1,705 | 2,963 |
| Minority interests | 2 | 1 | 21 |
| (Loss) profit for the period | (473) | 1,706 | 2,984 |
