Financial Statements
Notes to the Accounts
22 Segment information
Operating segments
The Group allocates resources to investment and asset management according to the sectors it expects to perform over the medium term. Its two principal sectors are currently offices and retail and the relevant revenue, net rental income, assets and capital expenditure are set out below:
| Offices | Retail | Other | Total | |||||
|---|---|---|---|---|---|---|---|---|
| 2008 £m |
2007 £m |
2008 £m |
2007 £m |
2008 £m |
2007 £m |
2008 £m |
2007 £m |
|
| Revenue | 317 | 327 | 366 | 464 | 32 | 35 | 715 | 826 |
| Net rental income | 230 | 228 | 314 | 306 | 17 | 27 | 561 | 561 |
| Segment assets | 5,506 | 6,184 | 6,235 | 8,946 | 907 | 1,250 | 12,648 | 16,380 |
| Capital expenditure | 537 | 487 | 105 | 1,016 | 17 | 147 | 659 | 1,650 |
Revenue is derived from the rental of buildings, fund management and performance fees and investments. Corporate costs, including administrative and interest expenses, are not allocated to the segments shown, therefore a sectoral profit or loss is not disclosed. Segment assets include the Group's investment in Funds and Joint Ventures. No customer exceeds 10% of the Group's revenues.
