Annual Report 2012 - Development Securities PLC

Financial Statements continued
Consolidated Statement of Comprehensive Income
For the 14-month period ended 29th February 2012
66 Development Securities PLC / Annual Report 2012
Notes
14-month period
ended 29th February
2012
£’000
Year ended
31st December
2010
£’000
Revenue 2 80,028 44,432
Direct costs 2 (59,653) (31,058)
Gross profit 2 20,375 13,374
Operating costs 2 (14,791) (12,907)
Gain on disposal of investment properties 2 211 313
(Loss)/gain on revaluation of property portfolio 10/11 (4,772) 8,769
Operating profit 4 1,023 9,549
Other income 750 186
Exceptional impairment and provision for serviced office segment 2 (2,845) —
Share of post-tax profits of joint ventures and associates 14(b) 1,577 2,914
Loss on sale of other fixed assets (28) (32)
Profit before interest and income tax 477 12,617
Finance income 6(a) 2,571 1,542
Finance costs 6(b) (13,215) (11,510)
(Loss)/profit before income tax (10,167) 2,649
Income tax 7 (1,879) (971)
(Loss)/profit after income tax (12,046) 1,678
(Loss)/profit attributable to:
Owners of the Parent (12,592) 1,678
Non-controlling interest 546 —
(12,046) 1,678
Other comprehensive income
(Loss)/profit for the period (12,046) 1,678
Loss on revaluation of operating property 11 (127) (310)
Loss on valuation of cross-currency interest rate swap 18(d) (4,268) (2,819)
Deferred income tax credit 7 1,067 761
Total comprehensive income for the period (15,374) (690)
Attributable to:
Owners of the Parent (15,920) (690)
Non-controlling interest 546 —
(15,374) (690)
Basic (loss)/earnings per share attributable to the Parent* 9 (10.3)p 1.7p
Diluted (loss)/earnings per share attributable to the Parent* 9 (10.3)p 1.7p
*Adjusted earnings per share from continuing activities is given in note 9.
The notes on pages 70 to 105 are an integral part of these Consolidated financial statements.