Another year of earnings growth VAT impact absorbed.
“It is clear to us that lower geared businesses, both operationally and financially, outperform over the longer term. Accordingly, one of the key tasks for your management since 2007 has been to create a capital structure reflective of those views.”

Occupancy growth of
174,000 sq ft across all
stores (2012: growth of 328,000 sq ft)

174,000 sq ft.

Revenue for the year up
6% to £69.7 million
(2012: £65.7 million)

£69.7m.

Adjusted profit before tax
of £25.5 million up 8%
(2012: £23.6 million)

£25.5m.

Diluted EPRA earnings per share up 6% to 19.3 pence
(2012: 18.2 pence)

19.3p.

Full year dividend of 11
pence per share declared
(2012: 10 pence per share)

11p.

Cash inflows from operating activities increased by
10% to £30.2 million
(2012: £27.4 million)

£30.2m.