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M. Discontinued operations
M. Discontinued operations
| Half year 2007 £m |
Half year 2006 £m |
Full year 2006 £m |
|
|---|---|---|---|
| Pre-tax profit (loss) from discontinued operations | |||
| Egg results : | |||
| Operating loss based on longer-term investment returns for the period of ownership | (68) | (45) | (157) |
| Short-term fluctuations in investment returns | – | – | 7 |
| Profit on sale of Egg Banking plc | 290 | – | – |
| Total | 222 | (45) | (150) |
| Tax | |||
| On Egg results : | |||
| Operating loss based on longer-term investment returns for the period of ownership | 19 | 11 | 47 |
| Short-term fluctuations in investment returns | – | – | (2) |
| On profit on sale of Egg Banking plc | 0 | – | – |
| Total | 19 | 11 | 45 |
| Profit (loss) from discontinued operations, net of tax | 241 | (34) | (105) |
Discontinued operations relate entirely to UK banking operations following the sale on 1 May 2007 of Egg Banking plc to Citi. Note K(i) provides details of the sale of Egg.
