Summarised consolidated profit and loss account - modified statutory basis - For the six months ended 30 June 2004
| 6 months 2004 €m |
6 months 2004 £m |
6 months 2003 £m |
Full year 2003 £m |
|
|---|---|---|---|---|
| Premium income (after reinsurance) and investment sales | ||||
| Continuing operations | ||||
| 14,142 | Life premiums, including share of associates’ premiums | 9,617 | 10,248 | 19,035 |
| 1,140 | Investment sales | 775 | 520 | 1,141 |
| 1,003 | Health premiums | 682 | 646 | 1,066 |
| 16,285 | 11,074 | 11,414 | 21,242 | |
| 6,550 | General insurance premiums | 4,454 | 4,278 | 8,524 |
| 22,835 | Total | 15,528 | 15,692 | 29,766 |
| Operating profit | ||||
| 805 | Modified statutory life profit | 548 | 515 | 1,138 |
| 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) |
| 1,291 | Operating profit – before tax, amortisation of goodwill, amortisation of acquired additional value of in-force long- term business and exceptional items* |
878 | 638 | 1,490 |
| (72) | Amortisation of goodwill | (49) | (52) | (103) |
| (72) | Amortisation of acquired additional value of in-force long-term business |
(49) | (40) | (135) |
| (37) | Financial Services Compensation Scheme levy | (25) | - | - |
| 1,110 | Operating profit before tax | 755 | 546 | 1,252 |
| (420) | Short-term fluctuation in investment return | (286) | 250 | 212 |
| (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) |
| 609 | Profit on ordinary activities before tax | 414 | 742 | 1,390 |
| (222) | Tax on profit on ordinary activities | (151) | (211) | (367) |
| 387 | Profit on ordinary activities after tax | 263 | 531 | 1,023 |
| (58) | Minority interests | (39) | (30) | (74) |
| 329 | Profit for the financial period | 224 | 501 | 949 |
| (13) | Preference dividends | (9) | (9) | (17) |
| 316 | Profit for the financial period attributable to equity shareholders |
215 | 492 | 932 |
| (310) | Ordinary dividends | (211) | (203) | (545) |
| 6 | Retained profit transferred to reserves | 4 | 289 | 387 |
| * All operating profit is from continuing operations. | ||||
