Income statement

Unaudited consolidated income statement for the six months ended 30 September 2008

		Six months ended 30 September 2008			Six months ended 30 September 2007			Year ended 31 March 2008
	Notes	Before exceptional items £m	Exceptional items £m	Total £m	Before exceptional items £m	Exceptional items £m	Total £m	Before exceptional items £m	Exceptional items £m	Total £m
Group revenue*	2	761.6	–	761.6	734.7	–	734.7	1,561.2	–	1,561.2
Costs	2	(476.3)	–	(476.3)	(450.4)	–	(450.4)	(958.6)	–	(958.6)
		285.3	–	285.3	284.3	–	284.3	602.6	–	602.6
Profit on disposal of non–current properties	2	1.5	–	1.5	79.0	–	79.0	75.4	–	75.4
Goodwill impairment	4	–	(147.6)	(147.6)	–	–	–	–	–	–
Net (deficit) / surplus on revaluation of investment properties	2	(1,562.7)	–	(1,562.7)	145.5	–	145.5	(1,170.3)	–	(1,170.3)
Operating (loss) / profit		(1,275.9)	(147.6)	(1,423.5)	508.8	–	508.8	(492.3)	–	(492.3)
Interest expense	3	(141.9)	–	(141.9)	(146.6)	–	(146.6)	(324.4)	–	(324.4)
Interest income	3	22.5	–	22.5	12.8	–	12.8	29.4	–	29.4
		(1,395.3)	(147.6)	(1,542.9)	375.0	–	375.0	(787.3)	–	(787.3)
Share of the loss of an associate undertaking (post–tax)		(2.0)	–	(2.0)	–	–	–	(0.5)	–	(0.5)
Share of the losses of joint ventures (post–tax)	11	(192.3)	–	(192.3)	(9.8)	–	(9.8)	(101.0)	–	(101.0)
(Loss) / profit before tax	2	(1,589.6)	(147.6)	(1,737.2)	365.2	–	365.2	(888.8)	–	(888.8)
Income tax (expense) / credit	5	(2.9)	–	(2.9)	(8.2)	–	(8.2)	10.5	–	10.5
(Loss) / profit for the financial period from continuing activities		(1,592.5)	(147.6)	(1,740.1)	357.0	–	357.0	(878.3)	–	(878.3)
Discontinued operations	12	14.7	–	14.7	10.0	–	10.0	47.5	–	47.5
(Loss) / profit for the financial period attributable to equity shareholders	16	(1,577.8)	(147.6)	(1,725.4)	367.0	–	367.0	(830.8)	–	(830.8)
(Loss) / earnings per share
Basic (loss) / earnings per share**	7			(375.10p)			76.43p			(188.80p)
Diluted (loss) / earnings per share**	7			(375.10p)			76.22p			(188.80p)

*Group revenue excludes the share of joint ventures’ income of £39.3m (30 September 2007: £72.9m, 31 March 2008: £111.6m) (see note 11)

**adjusted (loss) / earnings per share is given in note 7