Consolidated income statement – European Embedded Value Basis.

For the year ended 31 December 2010


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Notes

2010
£m

2009
£m

1.

The composition of the Savings and Investment management segments has changed. Institutional retail business is now included in the Savings segment. The 2009 comparatives have been amended accordingly in line with the new definition. The effect has been to reduce Savings 2009 operating profit by £5m with an offsetting increase in the Investment management segment’s operating profit.

2.

Investment projects relate to strategic investments including [Solvency II].

From continuing operations

 

 

 

Risk

2

663

913

Savings1

2

204

77

Investment management1

5

179

144

International

6

163

170

Group capital and financing

7

54

47

Investment projects2

 

(39)

(32)

Operating profit

 

1,224

1,319

Variation from longer term investment return

8

161

(413)

Effect of economic assumption changes

9

292

(335)

Property losses attributable to non-controlling interests

 

(19)

Profit before tax attributable to equity holders of the Company

 

1,677

552

Tax expense on profit from ordinary activities

11

(446)

(114)

Effect of UK Budget tax changes

11

33

Tax impact of corporate restructure

11

59

Profit for the year

 

1,264

497

Loss attributable to non-controlling interests

 

19

Profit attributable to equity holders of the Company

 

1,264

516

 

 

 

 

 

 

p

p

[Earnings per share]

 

 

 

Based on profit attributable to equity holders of the Company

12

21.71

8.86

Diluted earnings per share

 

 

 

Based on profit attributable to equity holders of the Company

12

21.41

8.81

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