Pro forma reconciliation of Group operating profit to profit before tax - IFRS basis
For the six months to 30 June 2008
| 6 months 2008 €m |
6 months 2008 £m |
Restated 6 months 2007 £m |
Full year 2007 £m |
||
|---|---|---|---|---|---|
| IFRS Operating profit before tax attributable to shareholders' profits | |||||
| 1,260 | Long-term business (note 7) | 970 | 834 | 1,634 | |
| 82 | Fund management (note 9) | 63 | 76 | 155 | |
| 699 | General insurance and health (note 10) | 538 | 560 | 1,033 | |
| Other: | |||||
| (87) | Other operations and regional costs (note 11) | (66) | (49) | (74) | |
| (92) | Corporate centre (note 12) | (71) | (80) | (157) | |
| (261) | Group debt costs and other interest (note 13) | (201) | (190) | (363) | |
| 1,601 | Operating profit before tax attributable to shareholders' profits | 1,233 | 1,151 | 2,228 | |
| Adjusted for the following: | |||||
| (825) | Investment return variances and economic assumption changes on long-term business (note 8) | (636) | 107 | 15 | |
| (408) | Short-term fluctuation in return on investments backing general insurance and health business (note 10) | (314) | 37 | (184) | |
| (55) | Impairment of goodwill | (42) | (3) | (10) | |
| (66) | Amortisation and impairment of intangibles | (51) | (49) | (103) | |
| 12 | Profit/(loss) on the disposal of subsidiaries and associates (note 4) | 9 | (5) | 49 | |
| (171) | Integration and restructuring costs (note 5) | (132) | (40) | (153) | |
| (110) | Exceptional costs for termination of operations (note 5) | (84) | - | - | |
| (22) | (Loss)/profit before tax | (17) | 1,198 | 1,842 | |
| (460) | Tax on operating profit | (354) | (329) | (607) | |
| 377 | Tax on other activities | 290 | 21 | 270 | |
| (83) | (64) | (308) | (337) | ||
| (105) | (Loss)/profit for the period | (81) | 890 | 1,505 |
Six months 2007 has been restated to reflect the change in the definition of group operating profit on an International Financial Reporting Standards (“IFRS”) basis. See Basis of preparation.
Earnings per share – IFRS operating profit basis
For the six months to 30 June 2008
| 6 months 2008 €m |
6 months 2008 £m |
Restated 6 months 2007 £m |
Full year 2007 £m |
|
|---|---|---|---|---|
| 39.1c | Basic (pence per share) | 30.1p | 28.1p | 53.2p |
| 38.8c | Diluted (pence per share) | 29.9p | 27.8p | 52.7p |
