Summarised consolidated profit and loss account - achieved profit basis For the six months ended 30 June 2004

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6 months
2004
€m
  6 months
2004
£m
6 months
2003
£m
Full year
2003
£m
  Operating profit      
1,176 Life achieved operating profit 800 705 1,555
49 Health 33 27 61
25 Fund management 17 10 10
901 General insurance 613 387 911
(22) Non-insurance operations (15) (47) (64)
(138) Corporate costs (94) (56) (160)
(329) Unallocated interest charges (224) (198) (406)
1,662 Operating profit before tax, amortisation of goodwill and exceptional items* 1,130 828 1,907
(72) Amortisation of goodwill (49) (52) (103)
(37) Financial Services Compensation Scheme levy (25) - -
1,553 Operating profit before tax 1,056 776 1,804
         
(733) Variation from longer-term investment return (499) 345 766
301 Effect of economic assumption changes 205 (217) 11
(16) Change in the equalisation provision (11) (28) (49)
9 Profit/(loss) on the disposal of subsidiary and associated undertakings 6 (7) (6)
(74) Exceptional costs for termination of operations (50) (19) (19)
1,040 Profit on ordinary activities before tax 707 850 2,507
         
(497) Tax on operating profit before amortisation of goodwill and exceptional items (338) (260) (561)
133 Tax on (loss)/profit on other ordinary activities 91 (18) (192)
676 Profit on ordinary activities after tax 460 572 1,754
         
(105) Minority interests (72) (40) (112)
571 Profit for the financial period 388 532 1,642
         
(13) Preference dividends (9) (9) (17)
558 Profit for the financial period attributable to equity shareholders 379 523 1,625
         
(310) Ordinary dividends (211) (203) (545)
         
248 Retained profit for the financial period 168 320 1,080
         
         
  Earnings per share      
46.6c Operating profit on an achieved profit basis before amortisation of goodwill and exceptional items, after tax, attributable to equity shareholders* 31.7p 22.5p 53.2p
24.7c Profit attributable to equity shareholders 16.8p 23.2p 72.2p
24.6c Profit attributable to equity shareholders – diluted 16.7p 23.1p 71.9p
* All operating profit is from continuing operations.

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