Five year record | Great Portland Estates

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Based on the Group financial statements for the years ended 31 March

Balance Sheet
Financed by
		IFRS
	2006 £m	2007 £m	2008 £m	2009 £m	2010 £m
Property portfolio	1,023.7	1,333.0	1,095.8	803.2	774.9
Joint ventures	72.4	176.0	390.6	183.2	332.4
Loans	(335.7)	(393.3)	(425.3)	(378.3)	(278.1)
Other net (liabilities)/assets	(105.7)	(39.7)	(11.7)	(39.5)	(47.5)
Net assets	654.7	1076.0	1,049.4	568.6	876.7
Issued share capital	20.4	22.6	22.6	22.6	39.1
Reserves	634.3	1,053.4	1,026.8	546.0	837.6
Total equity	654.7	1,076.0	1,049.4	568.6	876.7
Net assets per share*	299p	443p	433p	234p	280p
Diluted adjusted net assets per share*	326p	443p	434p	245p	283p

Income Statement
	2006 £m	2007 £m	2008 £m	2009 £m	2010 £m
Rental income	44.5	46.9	44.4	42.4	45.7
Joint venture fee income	1.3	1.6	5.8	4.7	3.0
Rental and joint venture fee income	45.8	48.5	50.2	47.1	48.7
Property and administration expenses	(15.4)	(18.2)	(19.9)	(17.6)	(16.6)
Profit from development management agreements	–	5.3	7.1	4.0	0.1
	30.4	35.6	37.4	33.5	32.2
Gain/(deficit) on investment property	186.1	278.1	(8.7)	(315.5)	89.8
Share of profit/(loss) of joint ventures	16.4	45.2	(1.6)	(131.5)	59.0
Profit/(loss) before financing costs	232.9	358.9	27.1	(413.5)	181.0
Finance income	0.8	0.3	0.6	0.3	0.4
Finance costs	(18.2)	(22.0)	(30.7)	(22.9)	(13.2)
Non-recurring items	(27.5)	(11.2)	–	(0.1)	(11.6)
Profit/(loss) before taxation	188.0	326.0	(3.0)	(436.2)	156.6
Taxation	(39.7)	56.8	(1.1)	0.1	(0.2)
Profit/(loss) after taxation	148.3	382.8	(4.1)	(436.1)	156.4
Earnings per share - basic*	68.4p	175.9p	(1.6)p	(180.0)p	555p
Earnings per share - adjusted*	7.6p	7.6p	9.4p	9.1p	10.1p
Dividend per share*	8.2p	8.4p	8.9p	9.0p	8.0p

*Restated for the rights issue

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