9th Aug 2007 10:00
General Accident PLC09 August 2007 ---------------------------------------------------------------------------------------------------------------------Page 1 of 3 INFORMATION FOR GENERAL ACCIDENT PREFERENCE SHAREHOLDERS GENERAL ACCIDENT PLC Unaudited results for the six months ended 30 June 2007 These results are published for the benefit of preference shareholders of General Accident plc ("the Company"). The preference shares have remained listed following the merger of the Company with Commercial Union plc in June 1998 toform CGU plc (CGU), and the subsequent merger of CGU with Norwich Union plc in May 2000 to form Aviva plc (formerly CGNU plc). The income of the Company consists primarily of interest received on an inter-company loan to its parent, Aviva plc. Equity shareholders' funds, including preference shares, of the Aviva Group, prepared using accounting policies under IFRS, increased during the period by £1,219 million to £12,595 million at 30 June 2007. IFRS operating profit of theAviva Group was stable at £1,375 million (6 months to 30 June 2006: £1,376 million) and net operating cash inflows in 2007 were £1,239 million (6 months to 30 June 2006: £2,102million). Summarised income statement Unaudited Unaudited results results 6 months to 6 months to 30 June 2007 30 June 2006 £m £m ------------ ------------Statutory results Finance income 371 487---------------------------------------------------------------------------------------------------------------------Total income 371 487Finance costs (20) (16)---------------------------------------------------------------------------------------------------------------------Profit on ordinary activities before tax 351 471Tax on profit on ordinary activities (105) (138)---------------------------------------------------------------------------------------------------------------------Profit for the period 246 333--------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------Page 2 of 3 Summarised balance sheet Unaudited Unaudited 30 June 2007 30 June 2006 £m £m ------------ ------------ Total assets 14,516 19,737--------------------------------------------------------------------------------------------------------------------- Equity attributable to ordinary shareholders 13,894 13,991Preference share capital 250 250---------------------------------------------------------------------------------------------------------------------Total equity 14,144 14,241Other liabilities 372 5,496---------------------------------------------------------------------------------------------------------------------Total equity and liabilities 14,516 19,737--------------------------------------------------------------------------------------------------------------------- Statement of changes in equity Unaudited results 6 months to 30 June 2007 £m ------------ Total equity at 1 January 2007 13,988Profit for the period 246Dividends (90)---------------------------------------------------------------------------------------------------------------------Total equity at 30 June 2007 14,144--------------------------------------------------------------------------------------------------------------------- Summarised cash flow statement Unaudited Unaudited 6 months to 6 months to 30 June 2007 30 June 2006 £m £m ------------ ------------ Net cash flow from operating activities - - Net cash flow from investing activities - -Net cash flow from financing activities (4) (4)---------------------------------------------------------------------------------------------------------------------Decrease in cash and cash equivalents (4) (4)--------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------Page 3 of 3 Basis of preparation The results for the six months to 30 June 2007 have been prepared on the basis of the accounting policies set out in the Company's 2006 Annual Report and Accounts. The interim accounts do not constitute statutory accounts as definedby section 240 of the Companies Act 1985. The auditor has reported on the 2006 accounts and the report was unqualified and did not contain a statement under section 237(2) or (3) of the Companies Act 1985. The Company's 2006 Report and Accounts have been filed with the Registrar of Companies. The unaudited results of Aviva plc for the six months ended 30 June 2007 are available on application to the Group Company Secretary, Aviva plc, St. Helen's, 1 Undershaft, London EC3P 3DQ. A copy can also be found on the Aviva plc website at www.aviva.com. Enquiries: Charles Barrows, Investor Relations Director, Aviva plc 020 7662 8115 END OF ANNOUNCEMENT This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Gen.acc.8se.pf