Highlights of the Year
|
|
2008 |
2007 |
|
| Embedded value per share |
521.2p |
484.5p |
+7.5% |
| Net asset value per share |
322.4p |
342.3p |
–5.8% |
| Diluted (loss)/earnings per share |
(23.4)p |
33.6p |
|
| Net cash generated per share |
18.5p |
26.0p |
–28.8% |
| Dividends paid per share |
3.15p |
2.90p |
+8.6% |
| Value of equity release plans arranged |
£13.3m |
£10.6m |
+25.5% |
| Number of plans under management |
2,028 |
1,826 |
+11.1% |
Key Achievements
“Our portfolio of equity release assets grew by 17% from £66.6m to £77.9m during the year. Our approach to investment has been disciplined, based on the application of long-term criteria for investment returns.”
“In a weakening property market, our assets have generally performed better than the property indices over the financial year; the protection afforded by the substantial discount to vacant value at which we acquire equity release assets enables us to weather substantial downward market corrections.”
“In our first full year since acquiring the Home & Capital Trust Group, we have increased the value of transactions arranged by 25.5% and the number of equity release plans under management by 11.1%.”
“The harsher economic conditions should benefit our equity release activities, as increasing numbers of elderly homeowners seek equity release solutions to sustain and improve their lifestyles.”
