Preliminary results year ended 31 December 2008
05 March 2009
For the year ended 31 December 2008
| 2008 €m |
2008 £m |
Restated 2007 £m |
|
|---|---|---|---|
| Operating profit before tax attributable to shareholders’ profits | |||
| 2,118 | Long-term business (note 3) | 1,694 | 1,610 |
| 154 | Fund management (note 5) | 123 | 179 |
| 1,498 | General insurance and health (note 6) | 1,198 | 1,021 |
| Other: | |||
| (248) | Other operations and regional costs (note 7) | (198) | (74) |
| (176) | Corporate centre (note 8) | (141) | (157) |
| (474) | Group debt costs and other interest (note 9) | (379) | (363) |
| 2,872 | Operating profit before tax attributable to shareholders’ profits | 2,297 | 2,216 |
| Adjusted for the following: | |||
| (2,038) | Investment return variances and economic assumption changes on long-term business (note 10) | (1,631) | 15 |
| (1,024) | Short-term fluctuation in return on investments on non-long-term business (note 11) | (819) | (184) |
| (118) | Economic assumption changes on general insurance and health business (note 6c) | (94) | 2 |
| (83) | Impairment of goodwill (note 12) | (66) | (10) |
| (146) | Amortisation and impairment of intangibles | (117) | (103) |
| 9 | Profit on the disposal of subsidiaries and associates (Appendix D6) | 7 | 49 |
| (408) | Integration and restructuring costs (note 13) | (326) | (153) |
| (689) | Exceptional items (note 14) | (551) | – |
| (1,625) | (Loss)/profit before tax | (1,300) | 1,832 |
| (609) | Tax on operating profit | (487) | (604) |
| 1,128 | Tax on other activities | 902 | 270 |
| 519 | 415 | (334) | |
| (1,106) | (Loss)/profit for the year | (885) | 1,498 |
