Financial Highlights
IFRS pre-tax profit increased by 55.5% to £103.7 million (H1 2014: £66.7 million)
Normalised Total Profit ("NTP") plus property revaluation of 16p per share
EPRA NAV per share increased to 103p (31 December 2014: 102p) *
Normalised Income Profit ("NIP") of £22.8 million (H1 2014: £25.1 million)
NTP of £30.1 million (H1 2014: £35.0 million)
November interim dividend increased by 5.1% to 2.1p per share (November 2014: 2.0p per share)
Net debt to property value ratio 36.1% (31 December 2014: 41.1%)
Operational Highlights
Property valuation increase across the attributable portfolio of 7.8% or £87.6 million (H1 2014: 3.7% or £43.1 million)
Sale of HPUT2 for £192.1 million an uplift over total cost of £31.7 million
£21.5 million other sales from the Total portfolio** generating profit over 31 December 2014 valuation of £1.8 million
£22.3 million of property acquired in the year to date at an average yield of 11.0% and a vacancy of 16.9%
Acquisition of a further 4.1% stake in the Ashtenne Industrial Fund ('AIF') for £11.0 million increasing ownership to 40.8%, announced in February 2015
Like-for-like occupancy improvement across the Total portfolio** of 34,862 sq m or 5.9% of vacancy at the start of the year
