Income Statement
‹ BackUnaudited consolidated income statement for the six months ended 30 September 2007
| Six months ended 30 September 2007 | Six months ended 30 September 2006 | Year ended 31 March 2007 | ||||||||
| Notes | Before exceptional items £m | Exceptional items £m | Total £m | Before exceptional items £m | Exceptional items £m | Total £m | Before exceptional items £m | Exceptional items £m | Total £m | |
| Income: Group and share of joint ventures | 807.6 | – | 807.6 | 853.9 | – | 853.9 | 1,722.7 | – | 1,722.7 | |
| Less: share of joint ventures’ income | 13 | (72.9) | – | (72.9) | (39.5) | – | (39.5) | (81.6) | – | (81.6) |
| Group revenue | 2 | 734.7 | – | 734.7 | 814.4 | – | 814.4 | 1,641.1 | – | 1,641.1 |
| Costs | 2 | (450.4) | – | (450.4) | (515.1) | – | (515.1) | (1,046.2) | – | (1,046.2) |
| 284.3 | – | 284.3 | 299.3 | – | 299.3 | 594.9 | – | 594.9 | ||
| Profit on disposal of non-current properties | 2 | 79.0 | – | 79.0 | 33.6 | – | 33.6 | 118.2 | – | 118.2 |
| Profit on disposal of a PPP project | 2 | 10.0 | – | 10.0 | – | – | – | – | – | – |
| Net surplus on revaluation of investment properties | 2 | 145.5 | – | 145.5 | 896.7 | – | 896.7 | 1,307.6 | – | 1,307.6 |
| Operating profit | 518.8 | – | 518.8 | 1,229.6 | – | 1,229.6 | 2,020.7 | – | 2,020.7 | |
| Interest expense | 3 | (142.3) | – | (142.3) | (114.7) | – | (114.7) | (233.3) | – | (233.3) |
| Interest income | 3 | 8.5 | – | 8.5 | 4.2 | – | 4.2 | 12.4 | – | 12.4 |
| 385.0 | – | 385.0 | 1,119.1 | – | 1,119.1 | 1,799.8 | – | 1,799.8 | ||
| Share of the (losses) / profits of joint ventures (post-tax) | 13 | (9.8) | – | (9.8) | 59.1 | – | 59.1 | 81.3 | 98.0 | 179.3 |
| Profit before tax | 2 | 375.2 | – | 375.2 | 1,178.2 | – | 1,178.2 | 1,881.1 | 98.0 | 1,979.1 |
| Income tax (expense) / credit | 5 | (8.2) | – | (8.2) | (318.4) | – | (318.4) | (445.0) | 1,994.2 | 1,549.2 |
| Profit for the financial period attributable to equity shareholders | 25 | 367.0 | – | 367.0 | 859.8 | – | 859.8 | 1,436.1 | 2,092.2 | 3,528.3 |
| Earnings per share * | ||||||||||
| Basic earnings per share | 7 | 78.57p | 183.25p | 753.59p | ||||||
| Diluted earnings per share | 7 | 78.35p | 152.51p | 750.54p | ||||||
| Dividend per share | 6 | 32.00p | 19.00p | 53.00p | ||||||
* adjusted earnings per share are given in note 7
© 2007 Land Securities Group