Summarised consolidated income statement - IFRS basis
For the six months ended 30 June 2005
| 6 months 2005 €m |
6 months 2005 £m |
6 months 2004 £m |
Full year 2004 £m |
|
|---|---|---|---|---|
| Income | ||||
| 18,365 | Premiums written net of reinsurance | 12,672 | 11,677 | 23,351 |
| 17,909 | Net premiums earned | 12,357 | 11,380 | 23,175 |
| 777 | Fee and commission income | 536 | 379 | 872 |
| 14,607 | Net investment income | 10,079 | 2,934 | 16,050 |
| 36 | Share of profit after tax of joint ventures and associates | 25 | 36 | 99 |
| 772 | Other operating income | 533 | 258 | 357 |
| 34,101 | 23,530 | 14,987 | 40,553 | |
| Expenses | ||||
| (7,939) | Change in insurance liabilities, net of reinsurance | (5,478) | (1,508) | (6,104) |
| (13,566) | Claims and benefits paid, net of recoveries from reinsurers | (9,360) | (8,811) | (17,625) |
| (4,351) | Expenses attributed to investment contracts | (3,002) | (1,715) | (5,635) |
| (514) | Change in unallocated divisible surplus | (355) | 890 | (1,330) |
| (2,926) | Fee and commission expense | (2,019) | (1,868) | (4,734) |
| (2,358) | Other operating expenses | (1,627) | (1,338) | (2,655) |
| (401) | Finance costs | (277) | (209) | (445) |
| 2,046 | Profit before tax | 1,412 | 428 | 2,025 |
| (417) | Tax attributable to policyholders’ returns | (288) | 21 | (383) |
| 1,629 | Profit before tax attributable to shareholders’ profits | 1,124 | 449 | 1,642 |
| Tax expense | ||||
| (642) | United Kingdom tax | (443) | (44) | (280) |
| (220) | Overseas tax | (152) | (115) | (374) |
| (862) | (595) | (159) | (654) | |
| 417 | Less: tax attributable to policyholders’ returns | 288 | (21) | 383 |
| (445) | Tax attributable to shareholders’ profits | (307) | (180) | (271) |
| 1,184 | Profit for the period | 817 | 269 | 1,371 |
| Attributable to: | ||||
| 1,096 | Equity shareholders of Aviva plc | 756 | 234 | 1,275 |
| 88 | Minority interests | 61 | 35 | 96 |
| 1,184 | 817 | 269 | 1,371 |
All profit is from continuing operations.
| 6 months 2005 | 6 months 2005 | 6 months 2004 | Full year 2004 | |
|---|---|---|---|---|
| Earnings per share – IFRS basis | ||||
| 47.1c | Basic (pence per share) | 32.5p | 10.0p | 55.8p |
| 46.5c | Diluted (pence per share) | 32.1p | 9.9p | 55.3p |
Subsequent to 30 June 2005, the directors proposed an interim dividend for 2005 of 9.83p (interim 2004: 9.36p) per ordinary share, 233 million (interim 2004: £211 million) in total. This will be accounted for as an appropriation of retained earnings in the full year ending 31 December 2005.
