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Standard Life - Annual Review 2006
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Group financial highlights

2006 2005

14,263 million pounds
Worldwide new business
sales PVNBP 
9,675 million pounds

614 million pounds
Group EEV pro forma operating profit before tax1
395 pounds

8.9 percent
Return on embedded value2
7.4 percent

540 million pounds
Group IFRS pro forma underlying profit before tax1
145 million pounds

283 million pounds
Group IFRS profit after tax attributable to equity holders3
Not applicable

156 billion pounds
Group assets under management4
138 billion pounds


1 See basis of preparation.

2 ROEV is based on EEV pro forma operating profit after tax including notional interest on IPO proceeds where appropriate.

3 Before demutualisation on 10 July 2006, the parent company of the Group was a mutual company operated for the benefit of its with profits policyholders, with all surpluses attributable to policyholders through bonuses declared or through transfers to the unallocated divisible surplus. See basis of preparation.

4 Total assets managed by the Group including third party assets not held on the balance sheet.


First dividend - 5.4p a share


It has been a challenging but successful year. On 10 July 2006, Standard Life demutualised after members of The Standard Life Assurance Company voted decisively in favour of this important step forward.

Having worked hard to prepare strong foundations for our successful future as a plc, we are pleased with our financial results for 2006. These show excellent improvements in profitability across the Group.

Our progress since flotation reaffirms our confidence in our future business prospects and we look forward to sharing that success with our shareholders over the coming years.

We are recommending the payment of our first dividend of 5.4p a share on 31 May 2007, covering the period from flotation to 31 December 2006.




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