Consolidated income statement for the year ended 31 December 2007
| Notes | 2007 £m |
2006 £m |
|||
|---|---|---|---|---|---|
| Revenue | 1 | 574.6 | 562.8 | ||
| Rental income | 546.7 | 493.1 | |||
| Rental expenses | (172.4) | (152.5) | |||
| Net rental income | 1 | 374.3 | 340.6 | ||
| Other income | 2.0 | 34.8 | |||
| (Deficit)/gain on revaluation and sale of investment and development property | 3 | (279.1) | 586.5 | ||
| 97.2 | 961.9 | ||||
| Administration expenses | (45.2) | (34.2) | |||
| Operating profit | 52.0 | 927.7 | |||
| Interest payable | 4 | (209.3) | (190.0) | ||
| Interest receivable | 8.8 | 3.9 | |||
| Exceptional finance costs | 4 | (3.3) | (2.0) | ||
| Change in fair value of derivative financial instruments | 27.0 | 163.5 | |||
| Net finance costs | (176.8) | (24.6) | |||
| Profit/(loss) before tax | (124.8) | 903.1 | |||
| Current tax | (2.7) | 0.8 | |||
| Deferred tax | (23.8) | 814.5 | |||
| REIT entry charge | (3.9) | (154.3) | |||
| Taxation | 6 | (30.4) | 661.0 | ||
| Profit/(loss) for the period | (155.2) | 1,564.1 | |||
| Loss/(profit) attributable to minority interests | 50.2 | – | |||
| Profit/(loss) for the period attributable to equity shareholders | (105.0) | 1,564.1 | |||
| Basic earnings per share | 9 | (29.0)p | 462.1p | ||
| Diluted earnings per share | 9 | (26.6)p | 444.0p | ||
| Weighted average number of shares | 9 | 361.7m | 338.5m | ||
Adjusted earnings per share are shown in note 9.
Notes form part of these consolidated financial statements.