Australia

The Australian results exceeded $1 billion for the first time in the half year to 31 March 2001, an increase of 39.7% over March 2000 and 14.3% over the September 2000 half year. This was due to solid performance from Banking & Other Financial Services and an excellent result from Wealth Management (WM). WM includes the operations of the MLC Group acquired on 30 June 2000. The expansion of WM operations in Australia boosts the Australian contribution to Group profit from continuing operations from 55.2% in March 2000 to 59.0% in March 2001.