Skip Links

Group income statement

For the year ended 31 March 2008

  Notes 2008
£ m
  2007
£ m
Rental income 2 44.4   46.9
Joint venture fee income 10 5.8   1.6
Rental and joint venture fee income   50.2   48.5
Service charge income   5.1   6.2
Service charge expenses   (6.0)   (7.9)
    (0.9)   (1.7)
Other property expenses   (4.8)   (2.3)
Net rental and related income   44.5   44.5
Administration expenses 3 (14.2)   (14.2)
Development management revenue   35.4   23.6
Development management costs   (28.3)   (18.3)
    7.1   5.3
Operating profit before (deficit)/gains on investment property and results of joint ventures   37.4   35.6
(Deficit)/gain from investment property 8 (8.7)   278.1
Share of results of joint ventures 10 (1.6)   45.2
Operating profit before financing costs   27.1   358.9
Finance income 4 0.6   0.3
Finance costs 5 (30.7)   (22.0)
Premium on redemption of interest-bearing loans and borrowings     (11.2)
(Loss)/profit before tax   (3.0)   326.0
Tax 6 (1.1)   56.8
(Loss)/profit for the year 19 (4.1)   382.8

Basic (loss)/earnings per share
7 (2.2)p   235.7p

Diluted (loss)/earnings per share
7 (2.2)p   214.3p

Adjusted earnings per share
7 12.6p   10.2p

All results are derived from continuing operations.

    2008
£m
  2007
£m
Total operating profit before (deficit)/gain on investment property        
Operating profit before gain on investment property and results of joint ventures   37.4   35.6
Share of results of joint ventures 10 16.1   3.1
Total operating profit before (deficit)/gain on investment property   53.5   38.7

Back to top