Annual Report 2012 - Development Securities PLC

Financial Statements continued
Notes to the Consolidated Financial Statements continued
For the 14-month period ended 29th February 2012
2 Segmental analysis continued
78 Development Securities PLC / Annual Report 2012
Investment
£’000
Development
and trading
£’000
14-month period ended 29th February 2012
Operating
£’000
Other segment information
Capital expenditure 23,370 352 565 24,287
Unallocated capital expenditure 260
Impairment of assets — — (1,575) (1,575)
Depreciation — (61) (642) (703)
Unallocated depreciation (300)
Revenue
Rental income 16,928 4,076 — 21,004
Serviced office income — — 4,550 4,550
Project management fees — 381 — 381
Trading property sales — 17,207 — 17,207
Other trading property income — 2,528 — 2,528
Construction contract revenue — 16,498 — 16,498
Development proceeds — 17,703 — 17,703
Other 157 — — 157
17,085 58,393 4,550 80,028
In the 14-month period ended 29th February 2012, one transaction with turnover totalling £12,427,000 generated in excess of 10.0 per cent of total
revenue and fell within the development and trading segment.
Investment
£’000
Development
and trading
£’000
Total
£’000
Year ended 31st December 2010
Operating
£’000
Segment revenue 12,865 27,744 3,823 44,432
Direct costs (3,682) (22,258) (5,118) (31,058)
Segment result 9,183 5,486 (1,295) 13,374
Operating costs (3,588) (9,319) — (12,907)
Gain on disposal on investment properties 313 — — 313
Gain on revaluation of investment property portfolio 8,769 — — 8,769
Operating profit/(loss) 14,677 (3,833) (1,295) 9,549
Other income 159 27 — 186
Share of post-tax profits/(losses) of joint ventures and associates 3,416 (502) — 2,914
Unallocated loss on sale of other fixed assets (32)
Profit before interest and income tax 12,617
Finance income 826 716 — 1,542
Finance costs (8,528) (2,982) — (11,510)
Profit before income tax 2,649
Income tax (971)
Profit after income tax 1,678
Assets and liabilities
Segment assets 249,335 223,432 7,181 479,948
Unallocated assets 65,203
Total assets 545,151
Segment liabilities (128,239) (71,466) (3,094) (202,799)
Unallocated liabilities (9,245)
Total liabilities (212,044)
A summary of unallocated assets and liabilities is shown on page 79.
Total
£’000