Annual Report 2016
ANNUAL REPORT 2016 PROFIT BEFORE TAX TOTAL PROPERTY TOTAL SHAREHOLDER LAND INCLUDING VALUATION SURPLUS RETURN RETURN1 SECURITIES £1,335.6m 11.5% -9.6% AT A GLANCE 2015: £2,416.5m 2015: 23.0% 2015: 26.3% TOTAL BUSINESS RETURN1 DIVIDEND PER SHARE2 We are the largest listed 13.4% 35.0p commercial property 2015: 30.7% 2015: 31.85p company in the UK by market capitalisation. COMBINED PORTFOLIO VALUE We buy, sell, develop LONDON and manage commercial West End offices 22.5% City offices 12.5% property, with a focus Central London shops 10.1% on offices, retail and leisure Mid-town offices 9.2% Inner London offices 2.2% in London, and retail and £14.5bn Other 0.3% leisure outside London. RETAIL Shopping centres and shops 26.2% Our vision is to be the best property company Retail parks 6.2% in the UK in the eyes of our customers, our Leisure and hotels 10.7% communities, our partners and our employees. Other 0.1% Our goal is to outperform our peer group in terms of total shareholder return through the property cycle. Here we show our financial performance over the last 12 months and REVENUE PROFIT3,4 ADJUSTED DILUTED EARNINGS4 DIVIDEND2 beyond. £m PENCE PER SHARE PENCE PER SHARE 362.1 45.7 35.0 319.6 329.1 299.4 41.5 290.7 40.5 38.5 36.8 31.85 30.7 29.8 29.0 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 ADJUSTED DILUTED NAV VALUATION SURPLUS4,5 ADJUSTED NET DEBT AND LTV PENCE PER SHARE £m RATIO4 1,434 2,036.9 4,400 50 1,293 4,290 4,200 4,172 1,013 4,000 3,981 3,948 40 863 903 3,800 907.4 3,600 Notes 763.8 Group LTV % 1.
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