Copy of `Workspace Group - Investment terms`

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Workspace Group - Investment terms
Category: Economy and Finance > Investing
Date & country: 20/11/2007, UK
Words: 18


Comparator IPD Index
is a benchmark index computed by IPD of comparable properties in comparable locations to those held by the Group.

Core portfolio
(like-for-like portfolio) are those properties that have been held throughout the year and which are not subject to significant redevelopment or refurbishment works.

Diluted and Adjusted EPS
are determined as set out under NAV.

Diluted NAV per share
is NAV adjusted for the effect of those shares potentially issuable under convertible loan stock or employee share schemes.

Earnings per share (EPS)
is the profit after taxation divided by the weighted average number of shares in issue during the period.

Equivalent yield
is a weighted average of the initial yield and reversionary yield and represents the return a property will produce based upon the timing of the income received.

Gearing
is the Group`s net debt as a percentage of net assets.

Initial yield
is the net rents generated by a property or by the portfolio as a whole expressed as a percentage of its valuation.

Interest cover
is the number of times net interest payable is covered by operating profit.

Like-for-like
see core portfolio: are those properties that have been held throughout the year and which are not subject to significant redevelopment or refurbishment works.

Net rents
are current rents excluding any contracted increases and after deduction of inclusive service charge revenue.

Occupancy percentage
is the area of space let divided by the total net lettable area (excluding land used for open storage).

Open market value
is an opinion of the best price at which the sale of an interest in the property would complete unconditionally for cash consideration on the date of valuation (as determined by the Group`s external valuers).

Profit before tax (PBT)
is income less all expenditure other than taxation.

Rent per sq ft
is the current net rent divided by the occupied area.

SEE
means Social Ethical and Environmental matters. The Group produces a separate SEE report titled Sustainability Report 2006.

Total Shareholder Return (TSR)
is the return obtained by a shareholder calculated combining both share price movements and dividend receipts.

Valuation Surplus and growth rate
is measured as the valuation surplus for the year divided by the total value of the portfolio before revaluation.