Investor Relations
Performance History
Investor Relations

Performance History

INCOME STATEMENT 2015
£m		 2014
£m		 Restated
2013
£m		 2012
£m		 Restated
2011
£m
Revenue 847 826 1,064 768 821
Operating profit 112 195 294 140 180
Net finance expense (20) (17) (13) (6) (7)
Income tax expense (12) (37) (30) (25) (28
Profit for the year 97 151 265 147 165
CASH FLOW          
Cash generated from operations 220 330 204 196 216
STATEMENT OF FINANCIAL POSITION 2015
£m		 2014
£m		 Restated
2013
£m		 2012
£m		 Restated
2011
£m
Property, plant, equipment and lease premium prepayment 2,858 2,851 2,457 2,096 2,091
Investments properties 506 479 414 169 174
Investments and loans in joint ventures and associates 255 235 203 440 423
Loans due from associate - - - 29 51
Other financial assets - 5 5 8 8
Non-current assets 3,619 3,570 3,079 2,742 2,747
Current assets excluding cash 163 182 259 264 242
Net cash/(debt) (605) (525) (215) 52 (100)
Deferred tax liabilities (210) (221) (208) (228) (236)
Provisions and other liabilities (225) (271)
 (236) (467) (405)
NET ASSETS 2,712 2,735 2,679 2,363 2,248
Share capital and share premium 940 940 940 940 940
Reserves 1,336 1,323 1,236 1,236 1,127
Total equity attributable to equity holders 2,276 2,263 2,176 2,176 2,067
Non-controlling interests 436 472 503 187 181
TOTAL EQUITY 2,712 2,735 2,679 2,363 2,248


KEY OPERATING STATISTICS 2015 2014 2013 2012 2011
Gearing 27% 23% 10% - 5%
Earnings per share 19.9p 34.0p 69.4p 42.0p 51.0p
Dividends per share1 6.42p 13.59p 22.74p 13.59p 16.50p
Hotel gross operating profit margin 34.1% 36.0% 35.0% 38.5% 38.7%
Occupancy 71.8% 74.2% 72.3% 70.8% 70.8%
Average room rate (£) £100.19 £96.49 £96.25 £95.08 £91.48
RevPAR (£) £71.98 £71.55 £69.58 £67.32 £64.81

1Dividends per share includes ordinary dividends and special dividends