2005 interim results

Overview

Operating profit before tax from continuing operations of £37.0 million (1H2004: £28.7 million), reflecting steady progress in Henderson Global Investors and Towry Law UK, lower corporate costs and returns on increased cash balances
Profit before tax for the discontinued Life Services business in the period from 1 January 2005 to the disposal date 13 April 2005 was £16.7 million (1H2004: £18.8 million loss after eliminating intra-group profits)
Profit on ordinary activities before tax from all operations of £35.1 million (1H2004: £21.2 million) after allowing for loss on disposal of discontinued operations totalling £18.6 million (1H2004: £11.3 million profit)
Profit on ordinary activities after tax from all operations of £23.7 million (1H2004: £5.1 million)
Henderson Global Investors operating profit up 5% to £38.0 million (1H2004: £36.2 million)
Henderson Global Investors cost to income ratio improved to 70.6% (1H2004: 71.9%)
Henderson Global Investors assets under management of £66.5 billion (31 Dec 2004: £69.1 billion)
Towry Law UK operating profit of £1.6 million (1H2004: £0.1 million loss)