British Land Interim Report
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Consolidated Statement of Recognised Income and Expense
for the period ended 30 September 2007
Year ended
31 March |
|
|
Three months ended
30 September |
Six months ended
30 September |
2007
Audited
£m |
|
Note |
2007
Unaudited
£m |
2006
Unaudited
£m |
2007
Unaudited
£m |
2006
Unaudited
£m |
| 2,453 |
(Loss) profit for the period after taxation |
|
(277) |
163 |
(2) |
578 |
| |
Valuation movements |
|
|
|
|
|
| 184 |
- on development properties |
2 |
34 |
59 |
94 |
107 |
| |
- on owner-occupied property |
2 |
7 |
|
7 |
|
| 22 |
- on other investments |
2 |
|
5 |
(30) |
5 |
| 206 |
|
|
41 |
64 |
71 |
112 |
| |
(Losses) gains on cash flow hedges |
|
|
|
|
|
| 93 |
- Group |
|
(83) |
(23) |
20 |
11 |
| 21 |
- Funds and joint ventures |
|
(16) |
(1) |
(4) |
5 |
| 8 |
Actuarial gain on pension scheme |
|
|
|
|
3 |
| (7) |
Fair value adjustment on consolidation
of former joint venture |
|
|
(7) |
|
(7) |
| 16 |
Tax on items taken directly to equity |
|
(9) |
(12) |
2 |
(45) |
| 337 |
Net (loss) gain recognised directly in equity |
|
(67) |
21 |
89 |
79 |
| |
Transferred to the income statement
(cash flow hedges) |
|
|
|
|
|
| 21 |
- foreign currency derivatives |
|
1 |
3 |
2 |
13 |
| (1) |
- interest rate derivatives |
|
(7) |
|
(11) |
2 |
| 20 |
|
|
(6) |
3 |
(9) |
15 |
| 2,810 |
Total recognised income and expense
for the period |
|
(350) |
187 |
78 |
672 |
Reconciliation of Movements in Shareholders' Funds
Year ended
31 March |
|
Three months ended
30 September |
Six months ended
30 September |
2007
Audited
£m |
|
2007
Unaudited
£m |
2006
Unaudited
£m |
2007
Unaudited
£m |
2006
Unaudited
£m |
| |
Capital items |
|
|
|
|
| 10 |
- Shares issued |
1 |
2 |
3 |
2 |
| (16) |
- Purchase of ESOP shares |
|
(9) |
(12) |
(13) |
| |
- Ordinary shares purchased and held as Treasury shares |
(125) |
|
(125) |
|
| 18 |
- Adjustment for share and share option awards |
4 |
9 |
7 |
11 |
| (91) |
- Dividends paid in the period |
(43) |
(61) |
(77) |
(61) |
| (79) |
|
(163) |
(59) |
(204) |
(61) |
| 2,810 |
Total recognised income and expense for the period |
(350) |
187 |
78 |
672 |
| 2,731 |
Movement in shareholders' funds for the period |
(513) |
128 |
(126) |
611 |
| 6,016 |
Opening equity shareholders' funds |
9,134 |
6,499 |
8,747 |
6,016 |
| 8,747 |
Closing equity shareholders' funds |
8,621 |
6,627 |
8,621 |
6,627 |
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