Consolidated income statement – European Embedded Value basis.

For the year ended 31 December 2009


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Notes

2009

£m

2008
Restated1
£m

1.

The [EEV] comparatives have been restated to reflect the impact of the change in definition of [IFRS] operating profit on non covered business. The change has increased 2008 EEV operating profit by £5m and reduced variation from longer term investment return by £5m. There is no impact on profit after tax or shareholders’ equity.

From continuing operations

 

 

 

Risk

2

913

439

Savings

2

82

50

Investment management

5

139

130

International

6

170

100

Group capital and financing

7

47

156

Investment projects

 

(32)

Operating profit

 

1,319

875

Variation from longer term investment return

8

(413)

(1,584)

Effect of economic assumption changes

9

(335)

(609)

Property losses attributable to minority interests

 

(19)

(63)

Profit/(loss) from continuing operations before tax attributable to equity holders of the Company

 

552

(1,381)

Tax (expense)/credit on profit/(loss) from ordinary activities

11

(114)

327

Tax impact of corporate restructure

 

59

81

Profit/(loss) for the year

 

497

(973)

Loss attributable to minority interests

 

19

63

Profit/(loss) attributable to equity holders of the Company

 

516

(910)

 

 

 

 

 

 

p

p

Earnings per share

12

 

 

Based on operating profit from continuing operations after tax attributable to equity holders of the Company

 

16.28

10.72

Based on profit/(loss) attributable to equity holders of the Company

 

8.86

(15.25)

Diluted earnings per share

12

 

 

Based on operating profit from continuing operations after tax attributable to equity holders of the Company

 

16.19

10.68

Based on profit/(loss) attributable to equity holders of the Company

 

8.81

(15.25)

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