Strengths and highlights
Financial highlights
 IFRS profit before tax attributable to shareholders’ profits Increase of £124m |
 EEV operating profit‡ Increase of 27% |
 Return on equity shareholders’ funds≠ Reduction of 0.6% |
 Worldwide sales# Increase of £3.6bn |
 Interim dividend per ordinary share Increase of 10% |
 Equity shareholders’ funds~ Increase of £0.6bn |
Strengths and highlights
We have achieved strong growth in sales and profits across our worldwide businesses.
We have a balanced portfolio of businesses that benefit from diversification of distribution, geography and products.
Our international businesses have announced their confidence in achieving average annual sales growth of at least 10%, after minority interests, over the next five years, before any acquisitions, while growing profits† at least as quickly.
Our UK life business has achieved excellent sales momentum and has successfully implemented its pension simplification strategy.
Our general insurance businesses have delivered another strong set of results, comfortably beating our combined operating ratio target of 98%.
The integration of RAC has now been completed and we are on target to meet our cost saving and revenue generation commitments.
| † | New business contribution after required capital, tax and minority interests. |
| ‡ | From continuing operations, including long-term savings result on a European Embedded Value (EEV) basis. |
| ≠ | Based on opening equity shareholders’ funds on an EEV basis, annualised at the half year. |
| # | Based on worldwide long-term savings new business sales, plus general insurance and health business net written premiums. |
| ~ | On an EEV basis. |
