Group income statement
| Notes | 2009 £m | 2008 £m | |
| Rental income | 2 | 42.4 | 44.4 |
| Joint venture fee income | 10 | 4.7 | 5.8 |
| Rental and joint venture fee income | 47.1 | 50.2 | |
| Service charge income | 5.2 | 5.1 | |
| Service charge expenses | (6.5) | (6.0) | |
| (1.3) | (0.9) | ||
| Other property expenses | (3.5) | (4.8) | |
| Net rental and related income | 42.3 | 44.5 | |
| Administration expenses | 3 | (12.8) | (14.2) |
| Development management revenue | 7.0 | 35.4 | |
| Development management costs | (3.0) | (28.3) | |
| 4.0 | 7.1 | ||
| Operating profit before deficit on investment property and results of joint ventures | 33.5 | 37.4 | |
| Deficit from investment property | 8 | (315.5) | (8.7) |
| Share of results of joint ventures | 10 | (131.5) | (1.6) |
| Operating (loss)/profit before financing costs | (413.5) | 27.1 | |
| Finance income | 4 | 0.3 | 0.6 |
| Finance costs | 5 | (22.9) | (30.7) |
| Loss on cancellation of derivatives | (0.1) | – | |
| Loss before tax | (436.2) | (3.0) | |
| Tax | 6 | 0.1 | (1.1) |
| Loss for the year | 18 | (436.1) | (4.1) |
| Basic and diluted loss per share | 7 | (241.1)p | (2.2)p |
| Adjusted earnings per share | 7 | 12.2p | 12.6p |
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Group income
statement
All results are derived from continuing operations.
| Total operating profit before deficit on investment property | 2009 £m |
2008 £m |
|
|---|---|---|---|
| Operating profit before deficit on investment property and results of joint ventures | 33.5 | 37.4 | |
| Share of profit from joint ventures | 10 | 8.2 | 16.1 |
| Total operating profit before deficit on investment property | 41.7 | 53.5 |