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"It has been a good first half, with encouraging growth across our business and we have been able to declare a significant increase in the dividend. Skandia's results are ahead of our expectations and the integration is progressing well. Currency movements always affect our results, but Old Mutual is now a significantly bigger and more diverse organisation than in the past and we are well placed in some very attractive markets."

Jim Sutcliffe
Chief Executive

Highlights

  • Adjused operating profit* (IFRS** basis): 
    up 36% to £771 million (30 June 2005: £566 million****) and
    up 32% to R8,714 million (30 June 2005: R6,584 million)
  • Adjusted operating profit (European embedded value (EEV) basis):
    up 39% to £885 million (30 June 2005: £638 million) and
    up 35% to R10,001 million (30 June 2005: R7,420 million)
  • Profit for the period attributable to equity holders:
    £380 million (30 June 2005: £387 million)
    R4,295 million (30 June 2005: R4,509 million)
  • Adjusted operating earnings per share* (IFRS basis): 
    down 2% to 8.5p (30 June 2005: 8.7p) and
    down 5% to 96.0c (30 June 2005: 100.7c)
  • Adjusted operating earnings per share (EEV basis):
    down 3% to 9.8p (30 June 2005: 10.1p) and
    down 5% to 111.4c (30 June 2005: 117.7c)
  • Basic earnings per share:
    8.0p (30 June 2005: 11.2p),
    90.2c (30 June 2005: 130.2c)
  • Total life assurance sales, on an Annual Premium Equivalent (APE) basis, of £732 million, an increase of 130%
  • Funds under management £218 billion (30 June 2005: £158 billion), an increase of 38%, R2,891 billion (30 June 2005: R1,896 billion)
  • Adjusted embedded value per share 143.2p, R18.95 at 30 June 2006 (30 June 2005: 135.9p, R16.25) (EEV basis)
  • Return on equity 14.1% (30 June 2005: 19.0%)
  • Interim dividend increased by 13.5% to 2.1p (27.8 cents***)

 

Supplementary Documents:

Old Mutual plc Interim Results Financial Disclosure Supplement (PDF 58.8 KB)