Details for (LGEN) / Market data / Selftrade

LEGAL&GEN.

(LGEN GB0005603997 GBX)

Value 121.400

Change Today +2.40

Updated03/02 16:35

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REG INV

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PROFILE

Registered Number	1417162
Registered Address	One Coleman Street London EC2R 5AA
Phone Number	+44 (0) 203 1242000
Fax Number
Website	http://www.legalandgeneral.com
Activities	Provides risk savings and investment management products and services
Country of Register	GB
Currency	GBX
Short Name	LEGAL&GEN.
First Day Traded	24/11/2003
Industrial Sector	Full Line Insurance
Number of shares	5.87b

Key People

John Stewart	Chairman
Timothy Breedon	Chief Executive Officer
Nigel Wilson	Financial Director
Nick Prettejohn	Non Executive Director
Rudy Markham	Non Executive Director
Stuart Popham	Non Executive Director
Mike Fairey	Non Executive Director
Ronaldo Schmitz	Non Executive Director
Julia Wilson	Non Executive Director
Frances Heaton	Non Executive Director
David Walker	Non Executive Director
Henry Staunton	Non Executive Director
James Strachan	Non Executive Director
Dame Furse	Non Executive Director
John Pollock	Director
Mark Gregory	Director

Major Shareholders

Schroder Investment Management Ltd.	5.04%
BlackRock Investment Management (UK) Ltd.	4.97%

Director Deals

Director	Date	Buy/Sell	Quantity	Price
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Income Statements £1K

	AR 2006	AR 2007	AR 2008	AR 2009	AR 2010
Fiscal Year End	31/12/2006	31/12/2007	31/12/2008	31/12/2009	31/12/2010
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Sales/Revenue	20,966	18,202	15,311	14,206	14,784
Premiums Earned	3,775	4,283	5,327	4,712	4,744
Total Investment Income	16,227	12,879	8,912	8,334	8,688
Realized Gains (Losses)	0	0	0	0	0
Other Operating Income	964	1,040	1,072	1,160	1,352
Losses, Claims & Reserves	16,939	16,128	-30,621	40,279	35,098
Losses, Benefits & Adjustments	3,551	3,905	4,251	4,116	4,266
Long Term Insurance Reserves	13,388	12,223	-34,872	36,163	30,832
Selling, General & Administrative Expenses & Other	987	841	47,722	-28,373	-22,694
Selling, General & Administrative Expenses	987	841	784	781	772
Other Selling, General & Admin. Expense	987	841	784	781	772
Underwriting & Commissions	0	0	0	0	0
Other Operating Expense	0	0	46,938	-29,154	-23,466
Operating Income Before Interest Expense	3,040	1,233	-1,790	2,300	2,380
Interest Expense, Net of Interest Capitalized	153	214	379	179	168
Interest Expense (excl. Interest Capitalized)	153	214	379	179	168
Interest Capitalized	0	0	0	0	0
Operating Income After Interest Expense	2,887	1,019	-2,169	2,121	2,212
Non-Operating Income (Expense)	-674	-662	-773	-882	-905
Interest Income	0	0	0	0	0
Miscellaneous Non Operating Expense	-674	-662	-773	-882	-905
Equity in Affiliates (Pretax)	0	0	0	0	0
Reserves Increase (Decrease)	284	-438	-806	0	0
Unusual Expense	0	0	17	0	0
Pretax Income	1,929	795	-2,153	1,239	1,307
Income Taxes	298	77	-1,023	395	487
Income Tax - Current - Domestic	301	263	104	104	141
Income Tax - Current - Foreign	0	0	0	0	0
Income Tax - Deferred - Domestic	-3	-186	-1,127	291	346
Income Tax - Deferred - Foreign	0	0	0	0	0
Income Tax Credits	0	0	0	0	0
Minority Interest Expense	67	-6	-63	-19	0
Equity in Affiliates	0	0	0	0	0
Other After Tax Income (Expense)	0	0	0	0	0
Net Income	1,564	724	-1,067	863	820
Extraordinaries & Discontinued Operations	0	0	0	0	0
Extra Items & Gain/Loss Sale Of Assets	0	0	0	0	0
Cumulative Effect - Accounting Chg	0	0	0	0	0
Discontinued Operations	0	0	0	0	0
Net Income After Extraordinaries	1,564	724	-1,067	863	820
Preferred Dividends	0	0	0	0	0
Net Inc. Avail. To Common - Basic	1,564	724	-1,067	863	820
Operational EPS	23.95	11.18	-17.61	14.73	13.88
EPS (basic)	24.12	11.24	-17.88	14.82	14.07
EPS (diluted)	23.95	11.18	-17.81	14.73	13.88

Balance Sheet £1K

	AR 2006	AR 2007	AR 2008	AR 2009	AR 2010
Fiscal Year End	31/12/2006	31/12/2007	31/12/2008	31/12/2009	31/12/2010
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Cash Only	4,930	2,905	4,451	3,496	3,839
Total Investment Assets	41,900	39,814	42,685	45,807	49,984
Total Fixed Income Securities Investment	24,837	26,153	32,613	36,999	40,377
Bonds	24,837	26,153	32,613	36,999	40,377
Redeemable Preferred Stock	0	0	0	0	0
Total Equity Securities Investment	12,842	10,310	5,507	5,317	5,971
Common Stocks	12,842	10,310	5,507	5,317	5,971
Non-Redeemable Preferred Stock	0	0	0	0	0
Real Estate Assets	3,938	3,073	1,820	1,475	1,658
Mortgage, Policy & Other Loans	65	71	262	81	78
Other Investments	218	207	2,483	1,935	1,900
Premium Balance Receivables	83	34	37	44	46
Net Property, Plant & Equipment	43	79	75	61	64
Investment in Unconsolidated Subs.	16	14	14	45	57
Other Assets (incl. Intangibles)	169,412	237,030	206,614	244,888	267,291
Separate & Variable Account Assets	166,266	234,115	202,892	241,498	263,727
Deferred Charges	1,456	1,696	2,112	1,957	2,000
Tangible Other Assets	1,690	1,219	1,383	1,287	1,407
Intangible Assets	0	0	227	146	157
Total Assets	216,384	279,876	254,864	295,137	321,776
Insurance Policy Liabilities (Insurance)	42,460	40,589	33,362	36,080	40,080
Insurance Reserves - (Insurance)	40,053	40,343	33,143	35,882	38,384
Unearned Premiums	133	126	124	114	129
Policy Claims	96	120	95	84	98
Other Insurance Liabilities	2,178	0	0	0	1,469
Total Debt	2,425	2,788	3,791	3,188	3,235
ST Debt & Current Portion of LTD	373	131	154	110	294
Short Term Debt	0	0	0	0	0
Current Portion of LT Debt	373	131	154	110	294
Long-Term Debt	2,052	2,657	3,637	3,078	2,941
LT Debt excl. Capital Lease Obligations	2,052	2,657	3,637	3,078	2,941
Capitalized Lease Obligations	0	0	0	0	0
Provision for Risks & Charges	568	595	741	757	761
Deferred Taxes	472	296	-729	-493	-139
Deferred Taxes - Credit	472	296	259	303	356
Deferred Taxes - Debit	0	0	-988	-796	-495
Accumulated Minority Interest	414	178	144	2	47
Other Liabilities	164,620	228,263	212,066	249,327	272,470
Deferred Tax Liability-Untaxed Reserves	0	0	0	0	0
Other Liabilities (excl. Deferred Income)	164,198	227,770	211,415	248,920	271,860
Deferred Income	422	493	651	407	610
Total Liabilities	210,545	272,531	250,219	289,655	316,902
Non-Equity Reserves	0	1,721	913	1,284	0
Preferred Stock (Carrying Value)	0	0	0	0	0
Redeemable Preferred Stock	0	0	0	0	0
Non-Redeemable Preferred Stock	0	0	0	0	0
Preferred Stock issues for ESOP	0	0	0	0	0
ESOP Guarantees - Preferred Stock	0	0	0	0	0
Common Equity (total)	5,425	5,446	3,588	4,196	4,827
Common Stock Par/Carry Value	163	157	147	147	147
Additional Paid-In Capital/Capital Surplus	923	927	936	936	938
Retained Earnings	4,335	4,345	2,593	3,110	3,704
ESOP Debt Guarantee	-45	-42	-46	-38	-41
Cumulative Translation Adjustment/Unrealized For. Exch. Gain	7	3	-40	0	0
Revaluation Reserves	0	0	0	0	0
Other Appropriated Reserves	42	56	-2	41	79
Unappropriated Reserves	0	0	0	0	0
Treasury Stock	0	0	0	0	0
Total Shareholders' Equity	5,425	5,446	3,588	4,196	4,827
Liabilities & Shareholders' Equity	216,384	279,876	254,864	295,137	321,776

Cash Flow £1K

	AR 2006	AR 2007	AR 2008	AR 2009	AR 2010
Fiscal Year End	31/12/2006	31/12/2007	31/12/2008	31/12/2009	31/12/2010
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Funds from Operations	1,315	4,227	1,086	758	2,707
Extraordinaries	0	0	0	0	0
Changes in Working Capital	0	0	0	0	0
Net Operating Cash Flow	1,315	4,227	1,086	758	2,707
Capital Expenditures	24	58	14	7	17
Capital Expenditures (Fixed Assets)	24	58	14	7	17
Capital Expenditures (Other Assets)	0	0	0	0	0
Net Assets from Acquisitions	0	0	0	0	0
Sale of Fixed Assets & Businesses	10	0	0	0	0
Purchase/Sale of Investments	-3	0	0	-36	-52
Purchase of Investments	-3	0	0	-36	-52
Sale/Maturity of Investments	0	0	0	0	0
Other Uses	0	0	0	0	0
Other Sources	0	0	1,004	0	0
Net Investing Cash Flow	-17	-58	990	-43	-69
Cash Dividends Paid - Total	-349	-369	-367	-185	-238
Common Dividends	-349	-369	-367	-185	-238
Preferred Dividends	0	0	0	0	0
Change in Capital Stock	4	-321	-522	-2	-9
Repurchase of Common & Preferred Stk.	-11	-325	-532	-2	-11
Sale of Common & Preferred Stock	15	4	10	0	2
Proceeds from Stock Options	15	4	10	0	2
Other Proceeds from Sale of Stock	0	0	0	0	0
Issuance/Reduction of Debt, Net	11	311	608	-505	-8
Change in Current Debt	0	0	0	0	0
Change in Long-Term Debt	11	311	608	-505	-8
Issuance of Long-Term Debt	1,062	1,948	3,568	2,124	750
Reduction in Long-Term Debt	-1,051	-1,637	-2,960	-2,629	-758
Other Funds	0	0	0	0	0
Other Uses	0	0	0	0	0
Other Sources	0	0	0	0	0
Net Financing Cash Flow	-334	-379	-281	-692	-255
Exchange Rate Effect	-35	17	156	-61	3
Miscellaneous Funds	0	0	0	0	0
Net Change in Cash	929	3,807	1,951	-38	2,386
Free Cash Flow	942	3,800	705	566	2,452

Analysis Data

	2006	2007	2008	2009	2010
Fiscal Year End	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31
Valuation
Market Capitalisation	10,288.31	8,223.00	4,501.73	4,724.95	5,676.00
Price/Earnings	6.53	11.62	0.00	5.44	6.88
Price/Sales	0.49	0.46	0.30	0.33	0.38
Price/Book Value	1.90	1.51	1.25	1.13	1.18
Price/Cash Flow	7.82	2.00	4.24	6.23	2.11
Enterprise Value/EBIT	0	0	0	0	0
Enterprise Value/EBITDA	0	0	0	0	0
Enterprise Value/Sales	0.63	0.63	0.56	0.56	0.61
Total Debt/Enterprise Value	0.18	0.24	0.44	0.40	0.36
Total Debt/EBITDA	0	0	0	0	0
EPS (basic)	24.12	11.24	-17.88	14.82	14.07
EPS (diluted) as stated	23.95	11.18	-17.81	14.73	13.88
Profitability
Operating Margin (%)	14.50	6.77	-11.69	16.19	16.10
Pretax Margin (%)	9.20	4.37	-14.06	8.72	8.84
Net Margin (%)	7.46	3.98	-6.97	6.07	5.55
Return on Assets (%)	0.77	0.29	-0.40	0.31	0.27
Return on Equity (%)	32.31	13.32	-23.62	22.17	18.18
Return on Avg. Total Capital (%)	21.50	9.00	-13.67	11.69	10.62
Return on Avg. Invested Capital (%)	23.08	9.29	-13.92	11.90	10.90
Efficiency
Revenue/Employee	2.15	1.81	1.57	1.52	1.71
Total Asset Turnover	0.10	0.07	0.06	0.05	0.05
Capital Structure
Debt-to-Total Equity (%)	44.70	51.19	105.66	75.98	67.02
Debt-to-Total Capital (%)	30.89	33.86	51.38	43.17	40.13
Debt-to-Total Assets (%)	1.12	1.00	1.49	1.08	1.01
Interest Coverage	0.00	0.00	0.00	0.00	0.00

Market data

Name	Latest	Var
FTSE 100	5,901.07(c)	+1.81%
FTSE 250	11,235.15(c)	+1.34%
DOW INDUSTRIALS	12,862.23(c)	+1.23%
HONG KONG HANG SENG INDIC	20,756.98	+0.08%
Nikkei 225	8,831.93(c)	-0.51%

Name	Latest	Var
ADMIRAL GRP	1,038.00(c)	+7.90%
MAN GROUP	136.70(c)	+7.81%
SMITHS GROUP	1,017.00(c)	+5.94%
LLOYDS GRP.	34.39(c)	+5.07%
ITV	79.35(c)	+4.75%

Name	Latest	Var
PETROFAC	1,474.00(c)	-1.40%
BG GROUP	1,425.00(c)	-0.49%
POLYMETAL INTL	1,165.00(c)	-0.43%
RANDGOLD RES.	7,400.00(c)	-0.27%
RDS 'A'	2,261.00(c)	-0.18%

Buys

Name	Latest	Var
TESCO	326.65(c)	+2.40%
GULF KEYSTONE	303.50(c)	+3.58%
GAME GROUP	6.64(c)	+24.58%
UNILEVER	2,029.00(c)	+1.76%
LLOYDS GRP.	34.39(c)	+5.07%

Sells

Name	Latest	Var
LLOYDS GRP.	34.39(c)	+5.07%
BARCLAYS	237.45(c)	+4.19%
AVIVA	377.00(c)	+3.69%
GAME GROUP	6.64(c)	+24.58%
BP	484.50(c)	+1.38%

Selftrade is a trading name and Selftrade® a registered trademark of Talos Securities Limited, which is authorised and regulated by the Financial Services Authority (FSA Register number 208271) and is a member of the London Stock Exchange and PLUS Markets. Talos Securities Ltd is incorporated in England and Wales (Registration No. 4196325, Registered Address: Boatman's House, 2 Selsdon Way, London E14 9LA). VAT No. 629 2807 22.

Data: include Bondscape, Dow Jones, Factset, FTSE, Morningstar. Conditions may apply.

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LEGAL&GEN.

PROFILE

Key People

Major Shareholders

Director Deals

Income Statements £1K

Balance Sheet £1K

Cash Flow £1K

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