Derwent London plc (DLN) 2009年年度报告「LSE」.pdf

1、Derwent London plcResults 2009 PageHighlights 02 Results review 04Valuation and statistics 16Portfolio management 24Market summary 30Projects 34Outlook 54 Appendices 56Disclaimer 76Presentation:John Burns,Damian Wisniewski,Simon Silver,Paul Williams,Nigel George,David SilvermanContentsHighlightsJohn

2、 Burns Strong recurring profits Excellent letting progress Successful disposals Sound financing-no rights issue undertaken Improving investment market and rental trend Regeneration programme accelerating02HighlightsHighlightsResults reviewDamian WisniewskiHeadline numbersResults review04 Dec Dec 200

3、9 2008%change Total portfolio at fair value 1,918.4m 2,108.0m(9.0%)Adjusted net asset value per share 1,168p 1,226p(4.7%)Gross property income 123.8m 119.0m 4.0%Recurring profit before tax(unadjusted)1 60.2m 23.3m 158.4%Recurring profit before tax(adjusted)1 55.4m 38.3m 44.6%Diluted recurring earnin

4、gs per share(unadjusted)1 55.23p 22.73p 143.0%Diluted recurring earnings per share(adjusted)1 50.10p 37.95p 32.0%Total interim/final dividend per share 27.00p 24.50p 10.2%Recommended final dividend 18.85p 16.35p 15.3%Net debt 723.4m 865.4m(16.4%)Property gearing/LTV ratio 36.4%39.7%(8.3%)Balance she

5、et gearing 62.2%71.2%(12.6%)1 See Appendix 2 for reconciliation to IFRS before tax05Group balance sheetResults review Dec June Dec 2009 2009 2008 m m m Investment property 1,888.6 1,718.9 2,068.1 Other non-current assets 47.5 39.5 38.8 1,936.1 1,758.4 2,106.9 Non-current assets held for re-sale-110.

6、2 17.5 Trading properties 1.0 7.5 7.5 Other current assets and liabilities(14.2)(11.9)(9.1)Cash and cash equivalents 19.0 9.0 10.5 Bank overdrafts and loans(5.9)(4.3)(106.6)Corporation tax liability(5.4)(2.6)(7.1)(5.5)(2.3)(104.8)Financial liabilities (736.5)(854.0)(769.3)Other non-current liabiliti