The following pro forma information does not form part of the consolidated primary statements or the notes thereto. It shows the results of the Group, with funds and joint ventures consolidated on a proportional basis.
Income statement for the six months ended 30 September 2005
| Year ended† 31 March 2005 £m |
|
2005 Unaudited £m |
2004 Unaudited £m |
|---|---|---|---|
| 630 | Gross rental and related income | 375 | 293 |
| 585 | Net rental and related income | 351 | 270 |
| 9 | Fees and other income | 9 | 4 |
| (53) | Administrative expenses | (40) | (24) |
| (360) | Net financing costs | (218) | (178) |
| 181 | Underlying profit before tax | 102 | 72 |
| 779 | Net valuation gains | 678 | 396 |
| Amortisation of intangible asset | (3) | ||
| (180) | Exceptional item | ||
| 780 | Profit on ordinary activities before tax | 777 | 468 |
| (42) | Tax credit (charge) relating to underlying profit | (22) | (18) |
| (84) | Deferred tax arising on revaluation movements | (140) | (78) |
| (126) | (162) | (96) | |
| 654 | Profit for the period after taxation | 615 | 372 |
| 128.5p | Earnings per share – Basic | 118.7p | 74.4p |
| 126.0p | – Diluted | 118.3p | 71.7p |
| 27.3p | Underlying earnings per share – Basic | 15.4p | 10.8p |
| 26.8p | – Diluted | 15.4p | 10.4p |
- † Unaudited, restated under IFRS
