Man Group plc - Annual Report 2007

Notes to the Group Financial Statements

 

1. Segmental analysis      

(a) Primary format – business segments
The Group’s continuing operations are in one business segment, Asset Management. There are no other significant classes of business, either singularly or in aggregate.

Brokerage is classified as a discontinued operation in these financial statements. It was previously reported as an individual segment. Additional information on discontinued operations is provided in Note 8.

(b) Secondary format – geographical segments
Although the Group’s principal offices are located in London, Pfäffikon (Switzerland) and Chicago, Asset Management income is generated from where the fund product entities, on which fees are earned, are registered. The analysis of revenue, assets and capital expenditure by geographic region of our continuing operations is given below:
Revenues 2007
$m		   Restated
2006
$m
Europe      
United Kingdom 28   –
Switzerland 3   3
Other European countries 299   365
  330   368
The Americas      
The United States of America 26   18
Bermuda 1,061   929
Cayman Islands 491   299
Other American countries 5   48
  1,583   1,294
       
Rest of the World      
Cook Islands 199   186
Other countries 2   3
  201   189
Continuing operations 2,114   1,851
Discontinued operations 2,392   1,537
  4,506   3,388
       
      Restated 2006
Assets              
  2007
$m		   Continuing
operations
$m		   Discontinued
operations
$m		   Total
$m
Europe              
United Kingdom 1,038   1,344   14,549   15,893
Switzerland 3,082   2,390   –   2,390
Other European countries 13   11   20   31
  4,133   3,745   14,569   18,314
The Americas              
The United States of America 195   170   12,450   12,620
Bermuda 154   1   –   1
Cayman Islands 21   39   –   39
Other American countries 161   59   28   87
  531   269   12,478   12,747
Rest of the World              
Cook Islands –   –   –   –
Other countries 239   185   293   478
  239   185   293   478
Continuing operations 4,903   4,199   27,340   31,539
Discontinued operations 50,162            
  55,065            
               
      2006
Capital expenditure 2007
$m		   Continuing
operations
$m		   Discontinued
operations
$m		   Total
$m
Europe              
United Kingdom 14   9   2   11
Switzerland 225   163   –   163
Other European countries 1   2   2   4
  240   174   4   178
The Americas              
The United States of America 8   9   11   20
Bermuda –   –   –   –
Cayman Islands –   –   –   –
Other American countries –   –   –   –
  8   9   11   20
Rest of the World              
Cook Islands –   –   –   –
Other countries 7   1   6   7
  7   1   6   7
Continuing operations 255   184   21   205
Discontinued operations 42            
  297            
               
Total assets and capital expenditure are allocated based on where the assets are located.
               

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