Summarised consolidated income statement - EEV basis
For the six months ended 30 June 2005
| 30 June 2005 €m |
6 months 2005 £m |
Restated* 6 months 2004 £m |
Full year 2004 £m |
|
|---|---|---|---|---|
| Operating profit | ||||
| 1,242 | Life EEV operating return | 857 | 799 | 1,611 |
| 26 | Fund management1 | 18 | 10 | 20 |
| 1,006 | General insurance and health | 694 | 583 | 1,259 |
| Other: | ||||
| 65 | Other operations2 | 45 | (12) | (41) |
| (120) | Corporate costs | (83) | (99) | (188) |
| (309) | Unallocated interest charges | (213) | (205) | (437) |
| 1,910 | Operating profit before tax | 1,318 | 1,076 | 2,224 |
| (14) | Impairment of goodwill | (10) | - | (41) |
| (12) | Amortisation and impairment of other intangibles | (8) | (1) | (3) |
| - | Financial Services Compensation Scheme and other levies | - | (25) | (49) |
| 1,216 | Variation from longer-term investment return | 839 | (440) | 662 |
| (770) | Effect of economic assumption changes | (531) | 56 | (318) |
| 210 | Profit on the disposal of subsidiaries and associates | 145 | 8 | 34 |
| (20) | Integration costs | (14) | - | - |
| - | Exceptional costs for termination of operations | - | (40) | (40) |
| 2,520 | Profit before tax | 1,739 | 634 | 2,469 |
| (597) | Tax on operating profit | (412) | (350) | (618) |
| (171) | Tax on profit/(loss) on other activities | (118) | 101 | (32) |
| 1,752 | Profit for the period | 1,209 | 385 | 1,819 |
| Attributable to: | ||||
| 1,623 | Equity shareholders of Aviva plc | 1,120 | 308 | 1,641 |
| 129 | Minority interests | 89 | 77 | 178 |
| 1,752 | 1,209 | 385 | 1,819 | |
| * Restated for the effect of implementing European Embedded Value principles. All profit is from continuing operations. | ||||
| 1 Excludes the proportion of the results of Morley’s fund management businesses and of our French asset management operation Aviva Gestion d’Actifs (AGA) that arises from the provision of fund management services to our Life businesses. These results are included within the Life EEV operating return. | ||||
| 2 Excludes the proportion of the results of Norwich Union Life Services relating to the services provided to the UK life business. The results for the six month period to 30 June 2004 also exclude the results of Norwich Union Equity Release (NUER). These results are included within the Life EEV operating return. Other subsidiaries providing services to our life businesses do not materially impact the Group results. | ||||
