for the year ended 31 March 2011

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Notes Group
2011
£m
Group
2010
£m
Group revenue1 5 701.9 833.4
Costs
(270.8) (392.5)


431.1 440.9
Profit/(loss) on disposal of investment properties 4 75.7 (32.5)
Net surplus on revaluation of investment properties 4 794.1 746.0
Impairment charge on trading properties 4 (1.4) (10.6)
Operating profit
1,299.5 1,143.8
Interest expense 9 (240.2) (248.9)
Interest income 9 26.0 29.8
Fair value movement on interest-rate swaps 9 (1.9) 7.0


1,083.4 931.7
Share of the profit of joint ventures (post-tax) 18 143.9 137.6
Profit before tax
1,277.3 1,069.3
Income tax 11 16.8 23.1
Profit for the financial year
1,244.1 1,092.4




Attributable to:


Owners of the Parent
1,241.6 1,088.9
Non-controlling interests
2.5 3.5
Profit for the financial year
1,244.1 1,092.4




Earnings per share attributable to the owners of the Parent (pence)


Basic earnings per share 12 162.33 144.04
Diluted earnings per share 12 162.18 143.96
  1. Group revenue excludes the share of joint ventures' income of £107.5m (2010: £101.7m).