annual report and financial statements 2009

2009 highlights

  • Trading profits of £11.5m (2008: £44.0m)
  • Property impairments and revaluation deficit of £22.4m (2008: deficit £22.4m)
  • Result before tax: loss of £11.9m (2008: profit £19.3m)
  • Earnings per share: loss 5.7p (2008: earnings 10.8p)
  • Second interim dividend of 1.25p, giving a total for the year of 2.5p (2008: 5.0p)
  • Net asset value per share decreased by 8% to 135p (2008: 146p)
  • Debt reduced to £32.1m (2008: £49.3m)
  • Further reduction in gearing to 18% (2008: 26%)

* Underlying figures exclude movements in fair value of investment properties.