Financial Highlights
Financial Summary
for the year ended 30 June 2009
| Property portfolio |
30 June 2009 |
30 June 2008 |
| Portfolio value |
£201.0m |
£264.4m |
| Valuation deficit |
£(64.7)m |
£(40.9)m |
| Reduction in value |
24% |
13% |
| Equivalent yield |
9.5% |
7.2% |
| Occupancy rate |
90.5% |
92.9% |
| Balance sheet |
30 June 2009 |
30 June 2008 |
| Net asset value |
£159.7m |
£222.7m |
| Basic NAV per share |
266p |
371p |
| Adjusted NAV per share* |
267p |
379p |
| Net debt |
£38.0m |
£29.2m |
| Gearing |
24% |
13% |
| Income statement |
30 June 2009 |
30 June 2008 |
| Pre-tax loss |
£(52.0)m |
£(26.7)m |
| Net rental income |
£15.9m |
£15.2m |
| Basic EPS |
(86.71)p |
(45.44)p |
| Adjusted EPS** |
19.12p |
23.13p |
| Ordinary dividend |
17.68p |
17.68p |
Recommended final dividend of 9.65p, making the total in respect of the year ended 30 June 2009 17.68p (2008: 17.68p).
*Excludes deferred tax and the mark to market on debt and includes the surplus on trading properties. **Excludes the profit on disposal of investment properties, revaluation of investment and development properties and deferred tax. See note 7 of the preliminary announcement for details.
Click here to download the Annual Report 2009.
Click here to download the preliminary announcement to 30 June 2009.