L&G H1 2014 RESULTS - PART 4

RNS Number : 4321O

Legal & General Group Plc

06 August 2014

 



Legal & General Group Plc                                                                                                
6 August 2014

L&G H1 2014 RESULTS - PART 4

This is Part 4 of the half year results of Legal & General Group Plc, being the going concern statement and directors' responsibility statement applicable to Parts 1 to 3 released earlier today. This does not amend or alter any of the information contained within Parts 1 to 3.

GOING CONCERN STATEMENT

The Group's business activities, together with the factors likely to affect its future development, performance and position in the current economic climate are set out in this Interim Management Report. The financial position of the Group, its cash flows, liquidity position and borrowing facilities are described in the Group Results. Principal risks and uncertainties are detailed on pages 19 to 21. In addition, the financial statements include, amongst other things, notes on the Group's objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments and hedging activities; and its exposures to credit risk and liquidity risk.

While the economy is improving, the general climate remains, to a degree, uncertain. However, based on the available information on the future, the directors consider that the Group has the plans and resources to manage its business risks successfully as it has a diverse range of businesses and remains financially strong.

After making enquiries, the directors have a reasonable expectation that the company and the Group have adequate resources to continue their operations for the foreseeable future. For that reason, they continue to adopt the going concern.

DIRECTORS' RESPONSIBILITY STATEMENT

We confirm to the best of our knowledge that:

i.          The consolidated interim financial statements have been prepared in accordance with IAS 34 as adopted by the European Union;

ii.         The interim management report includes a fair review of the information required by DTR 4.2.7, namely an indication of important events that have occurred during the first six months of the financial period and their impact on the consolidated interim financial statements, as well as a description of the principal risks and uncertainties faced by the company and the undertakings included in the consolidation taken as a whole for the remaining six months of the financial year;

iii.         The interim management report includes, as required by DTR 4.2.8, a fair review of material related party transactions that have taken place in the first six months of the financial period and any material changes in the related party transactions described in the last Annual Report;

iv.         The group embedded value summary and explanatory notes to the supplementary interim financial information have been prepared on the European Embedded Value basis as set out in Note 5.08; and

v.          The directors of Legal & General Group Plc are listed in the Legal & General Group Plc Annual Report for 31 December 2013, with the exception of Mike Fairey who stood down as non-executive director of the company on 21 May 2014 and Olaf Swantee who joined the Board as a non-executive director on 1 August 2014.  A list of current directors is maintained on the Legal & General Group Plc website: legalandgeneralgroup.com.

By order of the Board

N. D. Wilson                                          Mark Gregory

Group Chief Executive                          Group Chief Financial Officer

5 August 2014                                       5 August 2014

END

INVESTORS:

Laura Doyle Head of Investor Relations 020 3124 2088

Stephen Thomas Investor Relations Manager 020 3124 2047

MEDIA:

John Godfrey Group Communications Director 020 3124 2090

Richard King Head of Media Relations 020 3124 2095

 

END

 

 

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