Financial Summary

for the year ended 30 June 2016

Income statementYear ended 30 June 2016Year ended 30 June 2015
Underlying pre-tax profit(1)£15.0m£13.9m
Statutory pre-tax profit£25.2m£56.2m
EPRA EPS(2)23.88p22.21p
Basic EPS39.86p89.02p
Ordinary dividend per share21.47p20.84p


Balance sheet30 June 201630 June 2015
Net asset value£280.6m£268.6m
EPRA NAV per share(3)446p427p
Basic NAV per share443p424p
Net debt£71.2m£69.0m


Property Portfolio30 June 201630 June 2015
Vacancy rate3.2%5.4%
Portfolio value (4)£364.2m£349.7m
Valuation gain£10.2m£42.4m
Initial yield on investment properties6.4%6.3%
Equivalent yield7.2%7.2%

The Ordinary dividend of 21.47p per share (2015: 20.84p) consists of the interim dividend of 9.59p, a quarterly dividend of 5.00p and a final dividend of 6.88p.

(1) Underlying profit is defined as investment/development operations of the Group.  See the investment/development column in the tables in the property and finance review in the Annual Report for the calculations.

(2) Excludes the profit on disposal of investment, development and trading properties and the revaluation of investment and development properties and derivative financial instruments and tax adjustments. See note 10 of the Annual Report.

(3) Excludes the fair value of derivative financial instruments and includes the fair value surplus on trading properties. See note 10 of the Annual Report.

(4) See note 11 of the Annual Report.

Download the Annual Report and Financial Statements for the year ended 30 June 2016.