Financials: 2007 - 2008
| 2008 £m |
2007 ˜ £m |
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|---|---|---|---|---|
|
^ On an MCEV basis for 2008 and 2007. Prior years presented on an EEV basis. ~ 2007 comparatives have been restated for change in approach to reserving for latent claims. * Present value of new business premiums plus investment sales. **From continuing operations. a. Basic earning per ordinary share are shown. No figures have been provided for diluted earnings per share. |
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| Worldwide long-term savings new business sales* ^ | 40,278 | 39,705 | ||
| Worldwide general insurance and health business net written premiums** | 11,137 | 10,569 | ||
| Total sales | 51,415 | 50,274 | ||
| Consolidated profit and loss account | ||||
| Operating profit | £m | £m | ||
| Life Market Consistent Embedded Value (MCEV) operating earnings ^ | 2,801 | 2,544 | ||
| Fund management - MCEV basis ^ | 42 | 90 | ||
| General insurance and health | 1,198 | 1,021 | ||
| Other | ||||
| Other operations and regional costs | (163) | (70) | ||
| Corporate centre | (141) | (157) | ||
| Group debt costs and other interest | (379) | (363) | ||
| MCEV Operating profit before tax attributable to shareholders' profits^ | 3,358 | 3,065 | ||
| Adjustment to report the profits of our long-term insurance, fund management and other operations on an IFRS basis | (1,061) | (849) | ||
| IFRS Operating profit before tax attributable to shareholders' profits *** | 2,297 | 2,216 | ||
| Adjusted for the following: | ||||
| Investment return variances and economic assumption changes on long-term business | (1,631) | 15 | ||
| Short-term fluctuation in return on investments backing general insurance and health business | (819) | (184) | ||
| Economic assumption changes on general insurance and health business | (94) | 2 | ||
| Impairment of goodwill | (66) | (10) | ||
| Amortisation and impairment of intangibles | (117) | (103) | ||
| Profit on the disposal of subsidiaries and associates | 7 | 49 | ||
| Integration and restructuring costs | (326) | (153) | ||
| Exceptional items | (551) | – | ||
| (Loss) / Profit before tax attributable to shareholders' | (1,300) | 1,832 | ||
| Tax | 415 | (334) | ||
| (Loss) / Profit for the year | (885) | 1,498 | ||
| Minority interests | (30) | (178) | ||
| Preference dividends | (17) | (17) | ||
| Coupon payment on Direct Capital Instrument, net of tax | (40) | (37) | ||
| Profit after minority interests, preference dividends and DCI | (972) | 1,266 | ||
| Consolidated shareholders' funds | ||||
| Capital and reserves – IFRS basis | 11,252 | 13,146 | ||
| Equity attributable to shareholders of Aviva plc – IFRS basis | 11,252 | 13,146 | ||
| Direct capital instrument | 990 | 990 | ||
| Minority interests | 2,204 | 1,795 | ||
| Shareholders' funds – IFRS basis | 14,446 | 15,931 | ||
| Capital and reserves – MCEV basis ^ | 12,481 | 12,656 | ||
| Additional retained profit on an MCEV basis ^ | 431 | 7,342 | ||
| Equity attributable to shareholders of Aviva plc – MCEV basis ^ | 12,912 | 19,998 | ||
| Direct capital instrument and preference dividends | 1,190 | 1,190 | ||
| Minority interests | 3,013 | 2,501 | ||
| Shareholders' funds – MCEV basis ^ | 17,115 | 23,689 | ||
| Other financial information | ||||
| Ordinary dividends declared and charged in the year | 902 | 801 | ||
| Total dividend per share | 33.00p | 33.00p | ||
| Net asset value per ordinary share – MCEV basis | 486p | 763 | ||
| Return on equity shareholders' funds ^ | 11.0% | 10.4% | ||
| Earnings per share | ||||
| Basic – MCEV operating profit after tax basis ^ (a) | 83.4p | 70.4p | ||
| Basic – IFRS operating profit after tax basis (a) | 62.9p | 52.8p | ||
| Basic – total IFRS return (a) | (36.8)p | 48.9p | ||