Group income statement

For the year ended 31 March 2009
  Notes 2009 £m 2008 £m
Rental income 2 42.4 44.4
Joint venture fee income 10 4.7 5.8
Rental and joint venture fee income   47.1 50.2
Service charge income   5.2 5.1
Service charge expenses   (6.5) (6.0)
    (1.3) (0.9)
Other property expenses   (3.5) (4.8)
Net rental and related income   42.3 44.5
Administration expenses 3 (12.8) (14.2)
Development management revenue   7.0 35.4
Development management costs   (3.0) (28.3)
    4.0 7.1
Operating profit before deficit on investment property and results of joint ventures   33.5 37.4
Deficit from investment property 8 (315.5) (8.7)
Share of results of joint ventures 10 (131.5) (1.6)
Operating (loss)/profit before financing costs   (413.5) 27.1
Finance income 4 0.3 0.6
Finance costs 5 (22.9) (30.7)
Loss on cancellation of derivatives   (0.1)
Loss before tax   (436.2) (3.0)
Tax 6 0.1 (1.1)
Loss for the year 18 (436.1) (4.1)
Basic and diluted loss per share 7 (241.1)p (2.2)p
Adjusted earnings per share 7 12.2p 12.6p

All results are derived from continuing operations.

Total operating profit before deficit on investment property   2009
£m
2008
£m
Operating profit before deficit on investment property and results of joint ventures   33.5 37.4
Share of profit from joint ventures 10 8.2 16.1
Total operating profit before deficit on investment property   41.7 53.5