Income statement
Unaudited consolidated income statement for the six months ended 30 September 2009
| Six months ended 30 September | Year to 31 March | |||
| Notes | 2009 £m |
2008 Restated(1) £m |
2009 £m |
|
| Continuing operations | ||||
| Group revenue(2) | 4 | 418.7 | 405.4 | 821.2 |
| Costs | (200.3) | (164.6) | (326.4) | |
| 218.4 | 240.8 | 494.8 | ||
| Loss on disposal of investment properties | (18.6) | (0.7) | (130.8) | |
| Net deficit on revaluation of investment properties | (89.8) | (1,551.3) | (4,113.4) | |
| Impairment of trading properties | (9.3) | – | (92.3) | |
| Operating profit/(loss) | 3 | 100.7 | (1,311.2) | (3,841.7) |
| Interest expense | 5 | (134.2) | (139.0) | (262.9) |
| Interest income | 5 | 19.8 | 16.3 | 32.5 |
| Fair value movement on interest-rate swaps | 5 | 10.9 | 4.7 | (102.1) |
| (2.8) | (1,429.2) | (4,174.2) | ||
| Share of the loss of joint ventures (post-tax) | 10 | (1.8) | (192.0) | (599.0) |
| Loss before tax | (4.6) | (1,621.2) | (4,773.2) | |
| Income tax | 17.8 | 2.7 | (0.5) | |
| Profit/(loss) for the period from continuing operations | 13.2 | (1,618.5) | (4,773.7) | |
| Discontinued operations | – | (106.9) | (420.9) | |
| Profit/(loss) for the period | 13.2 | (1,725.4) | (5,194.6) | |
| Attributable to: | ||||
| Owners of the Parent | 11.9 | (1,725.4) | (5,191.3) | |
| Minority interests | 1.3 | – | (3.3) | |
| Profit/(loss) for the period | 13.2 | (1,725.4) | (5,194.6) | |
| Earnings/(loss) per share attributable to the owners of the Parent (pence)(3) (4) | ||||
| Basic earnings/(loss) per share | 7 | 1.58 | (335.16) | (999.04) |
| of which from: continuing operations | 7 | 1.58 | (314.39) | (918.04) |
| of which from: discontinued operations | 7 | – | (20.77) | (81.00) |
| Diluted earnings/(loss) per share | 7 | 1.58 | (335.16) | (999.04) |
| of which from: continuing activities | 7 | 1.58 | (314.39) | (918.04) |
| of which from: discontinued operations | 7 | – | (20.77) | (81.00) |
- Restated to reclassify the results of Trillium from continuing operations to discontinued operations.
- Group revenue excludes the share of joint ventures’ income of £56.0m (30 September 2008: £39.5m, 31 March 2009: £104.8m).
- Adjusted earnings per share from continuing operations is given in note 7.
- The earnings per share figures for the six months ended 30 September 2008 have been restated to reflect the bonus element inherent in the Rights Issue that was approved on 9 March 2009.