Group income statement

For the year ended 31 March 2010

Notes
2010
£m
2009
£m
Rental income
45.7
42.4
Joint venture fee income
3.0
4.7
Rental and joint venture fee income
48.7
47.1
Service charge income
6.0
5.2
Service charge expenses
(7.2)
(6.5)
(1.2)
(1.3)
Other property expenses
(2.8)
(3.5)
Net rental and related income
44.7
42.3
Administration expenses
(12.6)
(12.8)
Development management revenue
0.1
7.0
Development management costs
(3.0)
0.1
4.0
Operating profit before surplus/(deficit) on investment property and results of joint ventures
32.2
33.5
Surplus/(deficit) from investment property
89.8
(315.5)
Share of results of joint ventures
59.0
(131.5)
Operating profit/(loss)
181.0
(413.5)
Finance income
0.4
0.3
Finance costs
(13.2)
(22.9)
Loss on cancellation of derivatives
(11.6)
(0.1)
Profit/(loss) before tax
156.6
(436.2)
Tax
(0.2)
0.1
Profit/(loss) for the year
156.4
(436.1)
Basic and diluted profit/(loss) per share
55.5p
(180.0)p*
Adjusted earnings per share
10.1p
9.1p*


All results are derived from continuing operations.

Total operating profit before surplus/(deficit) on investment property 2010
£m
2009
£m
Operating profit before surplus/(deficit) on investment property and results of joint ventures 32.2 33.5
Share of profit from joint ventures 10 7.7 8.2
Total operating profit before surplus/(deficit) on investment property 39.9 41.7

*Restated for the Rights Issue see note 7 .


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