Group income statement
for the year ended 31st December 2009
| 2009 | 2008 | ||
|---|---|---|---|
| Note | £m | £m | |
| Gross property income | 123.8 | 119.0 | |
| Development income | – | 0.5 | |
| Other income | 1.5 | 0.9 | |
| Total income | 5 | 125.3 | 120.4 |
| Property outgoings | (10.5) | (14.6) | |
| Reverse surrender premium | – | (8.3) | |
| Write-down of trading property | – | (2.0) | |
| Total property outgoings | 6 | (10.5) | (24.9) |
| Net property income | 114.8 | 95.5 | |
| Administrative expenses | (20.0) | (18.3) | |
| Movement in valuation of cash-settled share options | (1.6) | 1.6 | |
| Total administrative expenses | (21.6) | (16.7) | |
| Revaluation deficit | (81.1) | (602.1) | |
| (Loss)/profit on disposal of investment properties | 7 | (16.6) | 1.2 |
| Loss from operations | (4.5) | (522.1) | |
| Finance income | 8 | 2.0 | 1.7 |
| Foreign exchange gain | 8 | 3.6 | – |
| Total finance income | 8 | 5.6 | 1.7 |
| Finance costs | 8 | (39.0) | (48.9) |
| Foreign exchange loss | 8 | – | (8.3) |
| Total finance costs | 8 | (39.0) | (57.2) |
| Movement in fair value of derivative financial instruments | 3.9 | (28.1) | |
| Share of results of joint ventures | 9 | (0.9) | (0.8) |
| Loss before tax | 10 | (34.9) | (606.5) |
| Tax credit | 15 | 9.4 | 9.3 |
| Loss for the year | (25.5) | (597.2) | |
| Attributable to: | |||
| Equity shareholders | 31 | (26.8) | (586.4) |
| Minority interest | 1.3 | (10.8) | |
| Loss per share | 16 | (26.59)p | (581.99)p |
| Diluted loss per share | 16 | (26.59)p | (581.99)p |
The notes that form part of these financial statements can be found here.