5th Aug 2008 09:30
5 August 2008
TO CITY EDITORS
FOR IMMEDIATE RELEASE
STANDARD CHARTERED PLC RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2008
HIGHLIGHTS
STANDARD CHARTERED PLC RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2008
Reported Results
Operating income up 33 per cent to $6,987 million from $5,263 million in H1 2007 (H2 2007: $5,804 million)
Profit before taxation up 31 per cent to $2,586 million, compared with $1,980 million in H1 2007 (H2 2007: $2,055 million)
Profit attributable to ordinary shareholders* up 30 per cent to $1,785 million, compared to $1,370 million in H1 2007 (H2 2007: $1,443 million)
Total assets up 34 per cent to $397 billion from $297 billion at H1 2007 (H2 2007: $330 billion)
Performance Metrics**
Normalised earnings per share up 19.6 per cent at 120.4 cents from 100.7 cents in H1 2007 (H2 2007: 96.9 cents)
Normalised return on ordinary shareholders' equity of 17.8 per cent (H1 2007: 16.7 per cent, H2 2007: 14.8 per cent)
Interim dividend per share increased 11 per cent to 25.67 cents
Normalised cost income ratio of 56.4 per cent (H1 2007: 54.7 per cent , H2 2007: 57.3 per cent)
Total capital ratio (Basel II basis) at 14.9 per cent compared to 15.2 per cent in H2 2007 (H1 2007: 15.6 per cent (Basel I basis))
Significant achievements
Record profit before taxation of $2,586 million, an increase of 31 per cent on H1 2007
Broad and diverse income growth in both Consumer Banking and Wholesale Banking
Accelerated investments for future growth while delivering excellent earnings per share growth of 19.6 per cent
Completed the acquisition of American Express Bank
Maintained strong liquidity and capital positions
Commenting on these results, the Chairman of Standard Chartered PLC, Mervyn Davies, said:
" Standard Chartered has again delivered record interim profits and income. These would be great results in any year; this year, they are exceptional. We have a strong and sustainable business, guided by a clear and consistent strategy and we enter the second half in good shape."
* Profit attributable to ordinary shareholders is after the deduction of dividends payable to the holders of the non-cumulative redeemable preference shares (see note 8 on page 54 of the full Interim Report).
** Results on a normalised basis reflect the results of Standard Chartered PLC and its subsidiaries (the 'Group') excluding items presented in note 9 on page 55 of the full Interim Report.
Standard Chartered PLC - Stock Code: 0288
The full Interim Report for the six months ended 30 June 2008 is now available on the Group's website: http://investors.standardchartered.com/releases.cfm
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/6259A_1-2008-8-4.pdf
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Standard Chartered