Revenue

£90.7m

2016: £101.9m

Revenue highlights

Basic earnings per share

7.82p

2016 restated*: 14.01p

Basic earnings per share highlights

Profit before tax

£19.6m

2016 restated*: £33.7m

Profit before tax highlights

Adjusted EPRA net asset value per share

96.22p

2016 restated*: 92.34p

Adjusted EPRA highlights

Year end cash balances

£26.5m

2016: £16.7m

Year end cash balances highlights

Dividend per share

1.70p

2016: 1.30p

Dividend per share highlights
  • Revenue of £90.7 million (2016: £101.9m) which excludes £27 million of land sales revenue where the transactions have been shown as a gain on sale of subsidiary or joint venture
  • Following the adoption of EPRA performance measures to fully reflect unrealised value within the Group's land bank, the pre-tax EPRA net asset value is:
30 June 201730 June 2016 restated
EPRA NAV91.88p88.22p
Adjusted EPRA NAV96.22p92.34p
  • 12.2% increase in net asset value to £130.6 million
  • Cash balances of £26.5 million (2016: £16.7 million) and net debt of £68.0 million (2016: £54.6 million), reflecting increased land holdings and work in progress
  • Profit before tax and before revaluation of investment properties increased 15.3% to £18.1 million (2016 restated*: £15.7 million)
  • 100% of borrowings now due after more than one year and 53.5% due in more than three years
  • 33% increase in proposed final dividend to 1.2p per share reflecting robust underlying performance and confidence in outlook

* Further information can be found in note 29 to the accounts