Skandia, the troubled Swedish financial services firm, can expect its results for 2004 to be hit by the bonus and benefits scandal that engulfed the firm at the end of 2003, although it posted positive results for 2003.

Hans-Erik Andersson, chief executive of Skandia, said the 2003 results "do not fully account for the issues" that have surrounded Skandia, where several senior directors were involved in a bonus and benefits scandal.