Interim Report 2007

Group results

European Embedded Value (EEV) basis unaudited interim supplementary information

EEV basis results


Summary consolidated income statement


Half year
2007
£m
Half year
2006
£m
Full year
2006
£m
UK insurance operations462336686
M&G140 100 204
UK operations602436890
US operations351350718
Asian operations520374864
Other income and expenditure(147)(141)(298)
UK restructuring costs0 (12) (41)
Operating profit from continuing operations based on longer-term investment returns1,3261,0072,133
Short-term fluctuations in investment returns24173738
Mark to market value movements on core borrowings11316885
Shareholders’ share of actuarial gains and losses on defined benefit pension schemes 125 246 207
Effect of changes in economic assumptions and time value of cost of options and guarantees275 (20) 59
Profit from continuing operations before tax2,080 1,474 3,222
Shareholder tax (545) (387) (904)
Profit from continuing operations for the period after tax before minority interests 1,535 1,087 2,318
Discontinued operations (net of tax) 241 (34) (105)
Profit for the period 1,776 1,053 2,213
Attributable to:
Equity holders of the Company 1,775 1,052 2,212
Minority interests 1 1 1
Profit for the period 1,776 1,053 2,213
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