Five-year financial summary

	2021 ³ £m	2020 ³ £m	2019² £m	2018¹ £m	2017¹ £m
Revenue	181.7	124.0	147.9	147.4	90.7
Profit before tax	13.2	3.7	25.0	19.3	19.6
Inventories	163.9	173.6	192.4	136.2	139.9
Cash	12.1	15.7	10.9	40.4	26.5
Gross debt	130.2	163.9	163.2	120.1	94.5
Net debt	118.1	148.2	152.3	79.7	68.0
Net gearing (%)
IFRS	64.5	85.7	93.9	56.0	52.1
EPRA	47.9	63.0	65.1	38.6	35.0
Net assets
IFRS	183.0	173.0	162.2	142.4	130.6
EPRA	246.5	235.4	233.9	206.7	194.4
Earnings per share (p)
Basic	4.21	0.65	11.79	7.64	7.82
Diluted	4.13	0.64	11.49	7.30	7.46
Dividend per share (p)
Basic	-	-	3.10	1.85	1.40
Diluted	-	-	2.40	2.20	1.70
Net asset value per share (p)
IFRS	80.10	76.31	78.84	70.46	64.62
EPRA Net Asset Value - diluted	106.00	101.46	110.55	98.03	91.88
EPRA Net Asset Value - undiluted	107.88	103.84	113.69	102.28	96.22
Net reinstatement value per share (p)
EPRA Net Reinstatement Value - diluted	106.00	101.46	N/A⁴	N/A⁴	N/A⁴
EPRA Net Reinstatement Value - undiluted	107.88	103.84	N/A⁴	N/A⁴	N/A⁴
Net tangible assets per share (p)
EPRA Net Tangible Assets - diluted	105.96	101.37	N/A⁴	N/A⁴	N/A⁴
EPRA Net Tangible Assets - undiluted	107.84	103.75	N/A⁴	N/A⁴	N/A⁴
Net disposal value per share (p)
EPRA Net Disposal Value - diluted	105.27	100.34	N/A⁴	N/A⁴	N/A⁴
EPRA Net Disposal Value - undiluted	107.14	102.69	N/A⁴	N/A⁴	N/A⁴

	Number	Number	Number	Number	Number
Private housing units sold	383	226	201	275	188
Land plots sold	601 ⁵	107	532	837	780
Land bank plots	10,055	11,045	7,796	6,870	6,776
Plots with planning permission and resolution to grant planning consent	3,689	2,470	2,956	1,708	2,105
Plots without planning permission	6,366	8,575	4,840	5,162	4,671

¹ Twelve-month reporting period ended 30 June.

² Fifteen-month reporting period ended 30 September.

³ Twelve-month reporting period ended 30 September.

⁴ These new features of the EPRA Net Asset Valuation metrics can into effect for reporting periods commencing on or after 1 January 2020.

⁵ This includes plots within the asset management division owned by third parties