Aviva 2001 Annual Report Download - page 94

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Alternative method of reporting long-term business
92 CGNU plc Annual report + accounts 2001
Summarised consolidated profit and loss account – achieved profit basis
For the year to 31 December 2001
2001 2001 2000
am£m £m
Operating profit
2,700 Life achieved operating profit 1,674 1,569
113 Health 70 68
47 Fund management 29 61
1,524 General insurance 945 412
(3) Non-insurance operations (2) (24)
(302) Corporate costs (187) (185)
(687) Unallocated interest charges (426) (361)
3,392 2,103 1,540
(160) Wealth management (99) (133)
Operating profit – continuing operations before tax,
3,232 amortisation of goodwill and exceptional items 2,004 1,407
(34) Discontinued operations (21) (554)
3,198 1,983 853
(140) Amortisation of goodwill (87) (92)
(50) Financial Services Compensation Scheme levy (31) –
(95) Integration costs (59) (425)
2,913 Operating profit before tax 1,806 336
(4,169) Variation from longer-term investment return (2,584) 213
2Effect of economic assumption changes 1(269)
(90) Change in the equalisation provision (56) (27)
463 Net profit/(loss) arising on the sale of subsidiary undertakings 287 (1,058)
–Loss on withdrawal from London Market operations –(448)
–Merger transaction costs –(59)
(881) Loss on ordinary activities before tax (546) (1,312)
Tax on operating profit – continuing operations before amortisation of
(1,018) goodwill and exceptional items (631) (437)
854 Tax on profit on other ordinary activities 529 174
(1,045) Loss on ordinary activities after tax (648) (1,575)
(130) Minority interests (80) (65)
(1,175) Loss for the financial year (728) (1,640)
(27) Preference dividends (17) (17)
(1,202) Loss for the financial year attributable to equity shareholders (745) (1,657)
(1,382) Ordinary dividends (857) (855)
(2,584) Retained loss for the financial year (1,602) (2,512)
Earnings per share attributable to equity shareholders
Operating profit on an achieved profit basis before amortisation of goodwill
90.5c and exceptional items, after tax, in respect of continuing operations 56.1p 39.7p
(53.4)c Loss for the financial year (33.1)p (73.8)p
(53.4)c Loss for the financial year – diluted (33.1)p (73.7)p