Investor information

Many of the financial activities undertaken have centred around enhancing reporting systems to support the growth and increased activity in the business. This has included improvements to our financial planning and risk management systems to ensure that we have the right controls and resources in place to effectively manage our substantial planned growth.

We have continued to see significant growth in our business whilst ensuring that returns have exceeded our targets. Over the last year we have successfully achieved:

• Net Assets increasing by 24%
• Returns exceeding our Weighted Average Cost of Capital
• Property Assets increasing by 28%
• Rental income increasing by 7% – despite planned reductions during the year from our future development sites, in particular Edgbaston Shopping Centre, Donne and Nettleton Houses.

These results continue to show how our investment, development and refurbishment programmes are adding value to the business. In addition we have benefited from the favourable market conditions for both commercial and residential property.

Our corporate structure, under the umbrella of Calthorpe Holdings Limited, has continued to operate successfully. This has enabled us to significantly expand our development activities and attract partners who will work closely with us to achieve our objectives. The major development projects are a prime focus within the business and funding to meet their requirements will be arranged in the coming months. This is likely to provide exciting opportunities for new as well as existing funding partnerships.

Net Assets – 6 year trend

How has value been created?

Property Assets – 6 year trend

6 Year Increase 125%

Rental Income – 6 year trend

6 Year Increase 75%

Property Assets 2001-2006

Analysis of value increase