Financial Highlights
Financial Summary
for the year ended 30 June 2012
| Income statement |
30 June 2012 |
30 June 2011 |
| Underlying pre-tax profit (1) |
£13.4m |
£12.2m |
| Gross rental income received |
£20.2m |
£18.3m |
| Basic EPS |
0.28p |
22.43p |
| EPRA EPS (2) |
22.59p |
21.36p |
| Ordinary dividend per share |
19.07p |
18.51p |
| Balance sheet |
30 June 2012 |
30 June 2011 |
| Net asset value |
£177.6m |
£188.6m |
| Basic NAV per share |
295p |
314p |
| EPRA NAV per share (3) |
297p |
318p |
| Net debt |
£69.0m |
£67.7m |
| Gearing |
39% |
36% |
| Property Portfolio |
30 June 2012 |
30 June 2011 |
| Vacancy rate |
6.5% |
7.3% |
| Portfolio value (4) |
£252.8m |
£261.3m |
| Valuation deficit |
£15.1m |
£0.4m |
| Initial yield on investment properties |
8.1% |
7.5% |
| Equivalent yield |
8.7% |
8.3% |
Recommended final dividend of 10.55p per share, making the total in respect of the year ended 30 June 2012 19.07p per share (2011: 18.51p). The final dividend will be paid as a Property Income Distribution (PID).
(1) See page 10 of the property and finance review for the calculations.
(2) Excludes the profit on disposal of investment, development and trading properties and the revaluation of investment and development properties and derivative financial instruments and taz adjustments. See note 9 of the annual report.
(3) Excludes the fair value of derivative financial instruments and includes the surplus on trading properties. See note 9 of the annual report.
(4) See note 10 of the annual report.
Click here to download the 2012 Annual Report and Accounts.