9th Aug 2006 10:00
General Accident PLC09 August 2006 ---------------------------------------------------------------------------------------------------------------------PAGE 1 OF 3 INFORMATION FOR GENERAL ACCIDENT PREFERENCE SHAREHOLDERS GENERAL ACCIDENT PLC Results for the six months ended 30 June 2006 These results are published for the benefit of preference shareholders of General Accident plc. The preference shares have remained listed following the merger of the Company with Commercial Union plc in June 1998 to form CGU plc (CGU), and the subsequent merger of CGU with Norwich Union plc in May 2000 to form Aviva plc (formerly CGNU plc). On 20 December 2005, the Company sold its investment in its only subsidiary, Norwich Union Limited (formerly Norwich Union plc), to its parent company, Aviva plc. As a consequence, the results presented below are for the Company and notthe General Accident Group. The income of the Company from that date consists primarily of interest on the loan made to Aviva plc for the transfer of Norwich Union Limited. Total shareholders' funds of the Aviva plc Group increased during the period by £633 million to £15,532 million at 30 June 2006. Operating profit of the Aviva plc Group was up 27%* to £1,699 million (2005: £1,318 million) and net operating cash inflows in 2006 were £2,102 million (2005: £2,857 million). * Measured at constant rates of exchange Summarised income statement Statutory results Unaudited results Unaudited results 6 months to 6 months to 30 June 2006 30 June 2005 £m £m ------------------------- -------------------------Finance income 487 -Dividends from subsidiaries - 1,758---------------------------------------------------------------------------------------------------------------------Total income 487 1,758Finance costs (16) (29)---------------------------------------------------------------------------------------------------------------------Profit on ordinary activities before tax 471 1,729Tax on profit on ordinary activities (138) 8---------------------------------------------------------------------------------------------------------------------Profit for the period 333 1,737--------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------PAGE 2 OF 3 Summarised balance sheet Unaudited as at Unaudited as at 30 June 2006 30 June 2005 £m £m ------------------------- -------------------------Total assets 19,737 24,333---------------------------------------------------------------------------------------------------------------------Equity attributable to ordinary shareholders 13,991 20,188Preference share capital 250 250---------------------------------------------------------------------------------------------------------------------Total equity 14,241 20,438Other liabilities 5,496 3,895----------------------------------------------------------------------------------------------------------------------Total equity and liabilities 19,737 24,333--------------------------------------------------------------------------------------------------------------------- Statement of changes in equity Unaudited results 6 months to 30 June 2006 £m -----------------Total equity at beginning of period 20,298Profit for the period 333Dividends (6,390)---------------------------------------------------------------------------------------------------------------------Total equity at the end of the period 14,241--------------------------------------------------------------------------------------------------------------------- Summarised cash flow statement Unaudited results Unaudited results 6 months to 6 months to 30 June 2006 30 June 2005 £m £m ------------------------- -------------------------Net cash flow from operating activities - -Net cash flow from investing activities - -Net cash flow from financing activities (4) 1---------------------------------------------------------------------------------------------------------------------(Decrease)/increase in cash holdings (4) 1--------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------PAGE 3 OF 3 Basis of preparation The results for the six months to 30 June 2006 have been prepared on the basis of the accounting policies set out in the Company's 2005 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 2005 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 2005 Report andAccounts have been filed with the Registrar of Companies. The unaudited results of Aviva plc for the six months ended 30 June 2006 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:
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