Results
Ungeared total property return 5.9%, underperforming the IPD Quarterly Universe at 6.8%
Total business return (dividends and adjusted diluted NAV growth) of 7.0%
Combined Portfolio valued at £14.6bn, with a valuation surplus of 3.8%
Valuation surplus of properties in the development programme of 6.8%
Revenue profit £184.2m, up 8.4%
Voids in the like-for-like portfolio remain low at 2.8% (31 March 2015: 3.2%)
Financials
Group LTV ratio at 26.5%, based on adjusted net debt of £4.0bn
Weighted average maturity of debt at 8.3 years
Weighted average cost of debt at 4.6%
Cash and available facilities of £1.4bn
First half dividend of 16.3p, up 3.2%
