Five year summary


Turnover and results

 IFRS
 2008200720062005 2004
 £000£000£000£000 £000
Turnover77,99487,99281,04885,039 81,375
Group net rental income61,29866,29565,50369,292 67,603
Operating profit before gains/(losses) on investment properties44,19839,53251,65254,180 58,139
Fair value (losses)/gains on investment properties(103,393)(68,077)162,06067,173 37,236
Results from associate and joint venture undertakings(7,470)5372,515(2,322) (1,701)
Impairment of goodwill(21,985)--- -
(Loss)/gain from sale of investment properties & subsidiaries(9,152)(1,974)(2,749)1,855 464
(Loss)/profit on ordinary activities before interest(97,802)(29,982)213,478120,886 94,138
Net finance costs(43,064)(42,661)(36,864)(36,229) (34,065)
Other non-recurring costs(1,288)--- -
(Loss)/profit before taxation(142,154)(72,643)176,61484,657 60,073
Tax on ordinary activities - current(3,610)(2,610)(1,225)(1,304) (596)
Tax on ordinary activities - deferred67,71742,342(19,058)(21,856) (16,042)
Discounted operations--(2,538)(6,192) (4,002)
(Loss)/profit for the year(78,047)(32,911)153,79355,305 39,433
Share buy-backs paid and proposed(58,970)(9,290)(53,577)(18,353) (15,676)

Net Assets Employed

Net Assets Employed
Fixed assets869,0901,251,5871,186,8801,141,265 1,056,763
Net current assets205,8931,383,8951,354,598127,014 79,559
 1,074,9831,383,8951,354,5981,268,279 1,136,322
Non-current liabilities(602,475)(813,114)(812,407)(841,682) (62,518)
Net assets338,585403,092448,139353,780 323,806

Ratios

Ratios2008200720062005 2004
Adjusted net assets per share (pence)647764824607 522
Statutory net assets per share (pence)502595617442 386
Earnings per share (pence)(120.7)(45.8)196.767.5 47.0
Gearing (%)121169119172 181
Interest cover (times)1.301.301.661.48 1.67