Excellent financial performance on all fronts
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EPRA earnings up 84% to £61.3 million from £33.3 million. Excluding the yield related element of the USAF performance fee, Adjusted EPRA earnings up 49% to £49.5 million. |
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EPRA earnings per share up 66% to 28.6 pence from 17.2 pence in 2014. Excluding the yield related element of the USAF performance fee, Adjusted EPRA EPS up 34% to 23.1 pence. |
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EPRA NAV per share up 33% to 579 pence (2014: 434 pence) making, together with dividends paid, a total return of 37% for the year. The calculation of EPRA NAV per share now reflects an assumption that the convertible bond will fully convert, resulting in dilution of 10 pence. |
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Full year dividend of 15.0 pence up 34% (2014: 11.2 pence). Final dividend declared of 9.5 pence (2014: 9.0 pence). |
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Like for like rental growth of 3.8% for the full year (2014: 3.3%). |
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Average yield compression across the portfolio of 70bps for the year (2014: 15bps) to 5.55% net initial yield as at December 2015. |
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IFRS profit before tax increased to £388.4 million (2014: £108.4 million) |
