10 - Corporate centre
The corporate centre result for the period was lower at £71 million (six months to 30 June 2007: £80 million) due to lower central spend and staff incentive costs. Within this total, project spend has increased to £20 million (six months to 30 June 2007: £13 million), driven by the corporate centre’s share of the ongoing implementation of the global finance strategy. This project will allow us to deliver new reporting requirements under MCEV and Solvency II and compliance with Sarbanes-Oxley (which would support a potential US listing). Further expenditure to deliver this project is also included in each region’s operating profit.
