Financial Statements
Consolidated Income Statement
for the year ended 31 March 2006| 2006 | 2005 | |||||||
| Note | Underlying pre tax* £m |
Capital, tax and other £m |
Total £m |
Underlying pre tax* £m |
Capital, tax and other £m |
Total £m |
||
|---|---|---|---|---|---|---|---|---|
| Gross rental and related income | 3 | 690 | 690 | 604 | 604 | |||
| Net rent and related income | 3 | 589 | 589 | 517 | 517 | |||
| Fees and other income | 4 | 50 | 50 | 8 | 8 | |||
| Amortisation of intangible asset | 13 | (10) | (10) | |||||
| Funds and Joint Ventures (see also below) | 12 | 39 | 272 | 311 | 31 | 127 | 158 | |
| Administrative expenses | (81) | (81) | (49) | (49) | ||||
| Net valuation gains (includes profits on disposals) | 6 | 1,462 | 1,462 | 610 | 610 | |||
| Goodwill impairment | 13 | (240) | (240) | |||||
| Net financing costs | ||||||||
| – financing income | 7 | 50 | 50 | 28 | 28 | |||
| – financing expenses | 7 | (419) | (419) | (354) | (354) | |||
| – refinancing charges | 7 | (122) | (122) | (180) | (180) | |||
| 7 | (369) | (122) | (491) | (326) | (180) | (506) | ||
| Profit on ordinary activities before taxation | 228 | 1,362 | 1,590 | 181 | 557 | 738 | ||
| Taxation (expense) credit | ||||||||
| – current | 10 | (7) | (7) | 46 | 46 | |||
| – deferred | 10 | (334) | (334) | (130) | (130) | |||
| 10 | (341) | (341) | (84) | (84) | ||||
| Profit for the year after taxation attributable to shareholders of the Company | 1,021 | 1,249 | 473 | 654 | ||||
| Earnings per share | ||||||||
| – basic | 2 | 241p | 129p | |||||
| – diluted | 2 | 240p | 126p | |||||
| Share of results of funds and joint ventures | ||||||||
| Underlying profit pre-tax | 39 | 39 | 31 | 31 | ||||
| Net valuation gains (includes profits on disposals) | 378 | 378 | 169 | 169 | ||||
| Current tax | (9) | (9) | (10) | (10) | ||||
| Deferred tax | (97) | (97) | (32) | (32) | ||||
| 12 | 39 | 272 | 311 | 31 | 127 | 158 | ||
