1 - Group operating profit before tax
In an uncertain economic environment, the group’s operating profit before tax, including Life EEV operating return, increased by 12% to £1,719 million (six months to 30 June 2007: £1,541 million). This solid performance has been driven by strong results in the life segment, and lower profit in the general insurance and health segment, once again demonstrating the strength of our composite model. On an IFRS basis, worldwide operating profit before tax increased by 7% to £1,233 million (six months to 30 June 2007 restated: £1,151 million).
| EEV basis | IFRS basis | ||||
|---|---|---|---|---|---|
6 months 2008 £m |
6 months 2007 £m |
6 months 2008 £m |
Restated1 6 months 2007 £m |
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|
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| Life operating return | 1,480 | 1,251 | 970 | 834 | |
| Fund management2 | 30 | 45 | 63 | 76 | |
| General insurance and health | 538 | 560 | 538 | 560 | |
| Other: | |||||
| Other operations and regional costs | (57) | (45) | (66) | (49) | |
| Corporate centre | (71) | (80) | (71) | (80) | |
| Group debt costs and other interest | (201) | (190) | (201) | (190) | |
| Operating profit before tax | 1,719 | 1,541 | 1,233 | 1,151 | |
| (Loss)/profit before tax attributable to shareholders' profits | (1,671) | 2,031 | (17) | 1,198 | |
| Equity shareholders' funds | 18,672 | 19,136 | 11,530 | 12,395 | |
