Key performance indicators
| IFRS highlights | 2008 | 2007 | Movement |
|---|
| IFRS underlying profit before tax |
£154m |
£714m |
(78%) |
| IFRS profit after tax attributable to equity holders |
£100m |
£465m |
(78%) |
| Diluted IFRS underlying EPS1 |
11.7p |
33.3p |
(65%) |
| Dividend cover2 |
1.0 times |
2.9 times |
(66%) |
Please refer to Basis of preparation and the Glossary of this report.
1 Diluted IFRS underlying EPS is based on 2,180m shares (2007: 2,177m shares) and the IFRS underlying profit after tax of Standard Life plc of £254m (2007: £725m).
2 Dividend cover is calculated as IFRS underlying profit after tax and minority interest for the year divided by the full year dividend.
IFRS profit
IFRS profit for the year was £17m (2007: £576m). This comprises profit after tax attributable to equity holders of £100m (2007: £465m) and losses attributable to minority interest of £83m (2007: profit £111m). The IFRS result included a 78% decrease in underlying profit before tax from £714m to £154m as well as the impact of a number of volatile items not included within the underlying profit. The decrease in underlying profit before tax was due to a lower value of one-off items benefiting the result in 2008 compared to 2007 and the impact of volatile markets in the period, and is explained in Underlying profit before tax.