Income Statement (EEV basis)
| Notes |
30.06.06 £m |
30.06.05 Restated £m |
Full year 2005 £m |
|
|---|---|---|---|---|
| Profit from continuing operations | ||||
| Life and pensions | 4 / 5 | 456 | 385 | 901 |
| Investment management | 6 | 87 | 70 | 136 |
| General insurance | 17 | 2 | 4 | 14 |
| Other operational income | 18 | 15 | 18 | 41 |
| Operating profit | 560 | 477 | 1,092 | |
| Variation from longer term investment return | 7 | 113 | 206 | 870 |
| Effect of economic assumption changes | 4 | (18) | 11 | 8 |
| Property income attributable to minority interests | 21 | 11 | 81 | |
| Profit from continuing operations before tax attributable to equity holders | 676 | 705 | 2,051 | |
| Tax | (198) | (186) | (563) | |
| Effect of UK tax changes | 11 | – | (276) | (276) |
| Profit from continuing operations after tax | 478 | 243 | 1,212 | |
| Profit from discontinued operations | – | 13 | 13 | |
| Profit from ordinary activities after tax | 478 | 256 | 1,225 | |
| Profit attributable to minority interests | 28 | (21) | (11) | (81) |
| Profit attributable to equity holders of the Company | 457 | 245 | 1,144 |
| p | p | p | |
|---|---|---|---|
| Earnings per share | |||
| Based on operating profit from continuing operations after tax attributable to ordinary equity holders | 6.19 | 5.22 | 12.02 |
| Based on profit attributable to ordinary equity holders of the Company | 7.05 | 3.67 | 17.42 |
| Diluted earnings per share | |||
| Based on operating profit from continuing operations after tax attributable to ordinary equity holders | 6.07 | 5.09 | 11.74 |
| Based on profit attributable to ordinary equity holders of the Company | 6.89 | 3.61 | 16.89 |
This financial information was approved by the Board on 26 July 2006.
The results for the six months to 30 June 2006 and 30 June 2005 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 2005 supplementary financial information on the European Embedded Value (EEV) basis included an auditors’ report which was unqualified. The 30 June 2005 comparatives have been restated. Details of these restatements can be found in Notes 1 and 21.
These figures have been prepared for covered business using the EEV basis. The International Financial Reporting Standards (IFRS) results are included on pages 20 to 26.