Overview
HHG has continued to build on the solid financial base established since listing in late 2003. In the first half 2004, good progress was made against the business objectives set by the Board and there were solid improvements in both operating profit* and efficiency.
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Profit on ordinary activities before tax of £46 million (1H2003: £902 million loss)
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Henderson operating profit of £25 million (1H2003: £13 million)
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Life Services operating profit of £32 million (1H2003: £40 million loss)
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Henderson assets under management of £68.4 billion (31 Dec 2003: £70.6 billion)
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Life Services traditional embedded value of £1.3 billion (31 Dec 2003: £1.1 billion)
HHG is on track to deliver its objectives to maintain margins for Henderson and continue efficiency improvements in Life Services in 2004.
* Operating profit represents trading results of the combined business units excluding non-trading exceptional items and short term investment fluctuations
Results releases
Results figures
Market presentation