Skip to main content [Access key C]Jump to the top navigation [Access key T]Jump to the local navigation [Access key L]Jump to the search [Access key S]Jump to the sitemap [Access key M]Jump to the homepage [Access key H]
Standard Life plc - Annual Report and Accounts 2007
Home The Group
at a Glance		 Business
Review		 Corporate
Responsibility		 Governance
Information		 Financial
Statements

IFRS - Group

IFRS highlights 2007 2006 Movement
IFRS underlying profit before tax1 £714m £540m 32%
IFRS profit after tax1 £576m £579m (1%)
Diluted IFRS underlying EPS1 33.3p 21.8p 53%
Dividend cover2 2.9 times 2.2 times 32%

1 2006 results are shown on a pro forma basis.
2 Dividend cover for 2006 is calculated as IFRS underlying profit after tax and minority interest for the period post demutualisation from 10 July 2006 to 31 December 2006 divided by the dividend paid in respect of this period.

Please refer to the basis of preparation section in the business review and the glossary.

IFRS profit after tax

Profit after tax decreased by £3m to £576m in 2007. This small decrease included a 32% increase in underlying profit offset by a number of volatile items not included within the underlying profit. These comprised the impact of new accounting guidelines in Canada which reduced profit by £144m and volatility arising from different IFRS measurement bases for assets and liabilities which reduced profit by another £158m. There was also an offsetting £17m one off gain from the part disposal of our investment in HDFC Asset Management Limited (HDFC AM) to our Indian joint venture partner. The increase in the underlying profit before tax is explained in more detail in the pages which follow.