Interim results - 6 months ended 30 June 2007
Operating and financial review
Group operating profit before tax
The Group's operating profit before tax, including life EEV operating return, decreased by 8% to £1,541 million (2006: £1,699 million) with strong results in the life segment offset by lower results in the general insurance segment as a result of adverse effects from weather and an increase in competition in the current year. On an IFRS basis, worldwide operating profit before tax was stable at £1,375 million (2006: £1,376 million).
| EEV basis | 6 months 2006 £m | |||
|---|---|---|---|---|
| 6 months 2007 £m | 6 months 2006 £m | 6 months 2007 £m | 6 months 2006 £m | |
| Life EEV operating return / IFRS long-term business profit | 1,251 | 1,021 | 1,081 | 710 |
| Fund management | 45 | 33 | 76 | 61 |
| General insurance and health | 560 | 866 | 560 | 866 |
| Other: | ||||
| Non-insurance operations | (45) | 29 | (72) | (11) |
| Corporate Centre | (80) | (73) | (80) | (73) |
| Group debt costs and other interest | (190) | (177) | (190) | (177) |
| Operating profit before tax | 1,541 | 1,699 | 1,375 | 1,376 |
| Profit before tax attributable to shareholders' profits | 2,031 | 1,284 | 1,198 | 1,248 |
| Equity shareholders' funds | 19,136 | 17,531^ | 12,395 | 11,176^ |
^ As at 31 December 2006
