The accounts
Consolidated income statement
All notes below are in PDF format and open in a new window
| Note | 2007 £m |
2006 £m |
|
|---|---|---|---|
| Interest receivable and similar income | 2,967.5 | 2,383.0 | |
| Interest expense and similar charges | (2,419.8) | (1,872.8) | |
| Net interest income | 3 | 547.7 | 510.2 |
| Fee and commission income | 81.7 | 91.7 | |
| Realised gains less losses on financial instruments | 39g | 6.5 | 2.1 |
| Fair value movements | 39g | (49.7) | (0.1) |
| Hedge ineffectiveness | 39g | (23.5) | 0.3 |
| Other operating income | 9.6 | 5.2 | |
| Net operating income | 572.3 | 609.4 | |
| Administrative expenses | |||
 - Ongoing |
4 | (280.2) | (271.6) |
| - Compensation |
4 | - | (89.4) |
| Loan impairment loss | 11 | (22.5) | (7.4) |
| Investment impairment loss | 13 | (94.4) | - |
| Loss on sale of assets | 2 | (58.0) | - |
| Non-operating income | 18 | 8.8 | 5.7 |
| Profit before taxation | 126.0 | 246.7 | |
| Taxation | 6 | (32.8) | (69.0) |
| Profit for the financial year | 93.2 | 177.7 | |
| Attributable to equity shareholders | 93.2 | 177.7 | |
| Earnings per share: | |||
| - Basic |
7 | 14.9p | 28.2p |
| - Diluted |
7 | 14.9p | 28.1p |
The notes form an integral part of these Financial Statements.
The Company's profit after tax for the financial year was £38.2m (2006: £151.4m). As permitted by Section 230 of the Companies Act 1985, the Company's Income Statement has not been presented in these Financial Statements.
The Group's business and operations comprise one single activity, principally within the United Kingdom. The results above arise from continuing activities and are attributable to the equity shareholders.
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