Interim results - 6 months ended 30 June 2007
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Pro forma reconciliation of Group operating profit to profit before tax - IFRS basis
For the six months to 30 June 2007
| 6 months 2007 €m |
|
6 months 2007 £m |
6 months 2006 £m |
Full year 2006 £m |
| 509 |
Fair value gains/(losses) on AFS securities, owner-occupied properties and hedging instruments |
346 |
(159) |
374 |
| (172) |
Fair value gains transferred to profit |
(117) |
(4) |
(162) |
| - |
Impairment losses on revalued assets |
- |
- |
(2) |
| 12 |
Share of fair value changes in investments held by joint ventures and associates taken to equity |
8 |
- |
- |
| 1,097 |
Actuarial gains/(losses) on pension schemes (note 17) |
746 |
473 |
(114) |
| (74) |
Foreign exchange rate movements |
(50) |
(10) |
(346) |
| (1) |
Aggregate tax effect - policyholder tax |
(1) |
2 |
- |
| (337) |
Aggregate tax effect - shareholder tax |
(229) |
(106) |
(5) |
| 1,034 |
Net income recognised directly in equity |
703 |
196 |
(255) |
| 1,309 |
Profit for the period |
890 |
929 |
2,389 |
| 2,343 |
Total recognised income and expense for the period |
1,593 |
1,125 |
2,134 |
| |
Attributable to: |
|
|
|
| 2,227 |
Equity shareholders of Aviva plc |
1,514 |
1,050 |
1,978 |
| 116 |
Minority interests |
79 |
75 |
156 |
| 2,343 |
|
1,593 |
1,125 |
2,134 |
Reconciliation of movements in consolidated shareholders' equity - IFRS basis
For the six months to 30 June 2007
| 6 months 2007 €m |
|
6 months 2007 £m |
6 months 2006 £m |
Full year 2006 £m |
| |
IFRS operating profit before tax attributable to shareholders' profits |
|
|
|
| 1,590 |
Long-term business |
1,081 |
710 |
1,896 |
| 112 |
Fund management |
76 |
61 |
155 |
| 824 |
General insurance and health |
560 |
866 |
1,680 |
| |
Other: |
|
|
|
| (106) |
Other operations |
(72) |
(11) |
(80) |
| (118) |
Corporate centre |
(80) |
(73) |
(160) |
| (280) |
Group debt costs and other interest |
(190) |
(177) |
(381) |
| 2,022 |
IFRS operating profit before adjusting items and tax attributable to shareholders' profits |
1,375 |
1,376 |
3,110 |
| |
Adjusted for the following: |
|
|
|
| (4) |
Impairment of goodwill |
(3) |
- |
(94) |
| (168) |
Amortisation of acquired value of in-force business |
(114) |
(33) |
(100) |
| (76) |
Amortisation and impairment of intangibles |
(52) |
(19) |
(70) |
| - |
Financial Services Compensation Scheme and other levies |
- |
6 |
6 |
| 54 |
Short-term fluctuation in return on investments backing general insurance and health business |
37 |
(205) |
149 |
| (7) |
(Loss)/profit on the disposal of subsidiaries and associates |
(5) |
147 |
222 |
| (59) |
Integration and restructuring costs |
(40) |
(24) |
(246) |
| 1,762 |
Profit before tax attributable to shareholders' profits |
1,198 |
1,248 |
2,977 |
| |
Tax attributable to shareholders' profits |
|
|
|
| (556) |
Operating profit |
(378) |
(370) |
(725) |
| 103 |
Other activities |
70 |
51 |
137 |
| (453) |
|
(308) |
(319) |
(588) |
| 1,309 |
Profit for the period |
890 |
929 |
2,389 |
| 6 months 2007 |
|
6 months 2007 |
6 months 2006 |
Full year 2006 |
| |
Earnings per share - IFRS basis |
|
|
|
| 51.0c |
Basic (pence per share) |
34.7p |
38.5p |
86.9p |
| 50.6c |
Diluted (pence per share) |
34.4p |
38.1p |
86.0p |
