Financial highlights
Six Months to 30 September 2018 Six Months to 30 September 2017 Six Months to 31 March 2018
Total NAV return per share 8.08% 7.15% 11.91%
EPRA NAV per share 113.00 pence 105.01 pence 107.67 pence
Earnings per share 8.70 pence 9.26 pence 15.12 pence
Dividend per share 2.75 pence 1.00 pence 4.00 pence
Adjusted earnings per share 3.17 pence 1.49 pence 5.05 pence
EPRA earnings per share 2.80 pence 1.13 pence 4.20 pence
Operating profit £18.39 million £10.01 million £20.07 million
Portfolio valuation £318.79 million £159.92 million £278.92 million
Loan to value ratio 29% 29% 30%
Average fixed cost of debt 2.90% 2.93% 2.90%
Average debt maturity 11 years 12 years 11 years
Operational highlights
Six Months to 30 September 2018 Six Months to 30 September 2017 Six Months to 31 March 2018
Average acquisition NIY 5.98% 5.94% 6.03%
Rents containing index-linked or fixed uplifts 97% 96% 96%
WAULT to first break 23 years 24 years 24 years
Portfolio let or pre-let 100% 100% 100%
Property Sectors 9 8 9
Separate tenants 29 17 25
Acquisitions made 'off market' 83% 84% 84%
Geared IRR on disposals 47% n/a n/a