Half Yearly Report 2008

Chief Executive's Statement

“Our portfolio gives us good defensive qualities and we work hard to create competitive advantage throughout the cycle...”

Francis Salway,
Chief Executive

  • 1.1 million sq m of development space opened in H1, 92% let
  • Good underlying performance in revenue profit of 13.3%
  • Growth in like-for-like portfolio rental income of 3.7%*

*Excluding development pipeline properties

The current environment imposes pressures across all business sectors. The challenge for business leaders, and their shareholders, is to understand clearly how these pressures impact results and future performance prospects.