41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 194
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THE UNITE GROUP PLC | Annual Report and Financial Statements 2022
NOTES TO THE FINANCIAL STATEMENTS continued
Section 2: Results for the year continued
2.3 Net assets continued
2.3b) Movement in EPRA NTA during the year
Contributions to EPRA NTA by each segment during the year is as follows:
2022
Share of JVs
Note
Unite
£m
USAF
£m
LSAV
£m
Group on
EPRA basis
Total
£m
Operations segment result
2.2a
123.2
20.5
24.0
167.7
Add back amortisation of intangibles
3.3b
5.9
–
–
5.9
129.1
20.5
24.0
173.6
150.2
Operations
Total Operations
Property
Rental growth
117.1
0.5
32.6
Yield movement
(11.0)
2.2
(3.0)
Disposal losses (owned)
(15.6)
(0.9)
90.5
1.8
29.6
–
–
Investment property gains (owned)*
Investment property losses (leased)
Investment property gains (under development)
Pre-contract/other development costs
3.1
3.1
2.2a
Total Property
(9.3)
(11.8)
–
(16.5)
121.9
(9.3)
6.6
–
–
6.6
(1.2)
–
–
(1.2)
86.6
1.8
29.6
118.0
1.1
–
–
1.1
Unallocated
Shares issued
Investment in joint ventures
Dividends paid
Abortive costs
Acquisition of intangibles
Other
3.3b
(102.4)
122.0
(96.4)
–
(19.6)
–
–
(96.4)
(1.5)
–
–
(1.5)
(8.0)
–
–
(8.0)
(0.2)
(3.8)
121.7
(19.8)
(108.6)
5.2
144.0
33.8
183.0
Total EPRA NTA brought forward
2,514.4
431.2
586.6
3,532.2
Total EPRA NTA carried forward
2,519.6
575.2
620.4
3,715.2
Total Unallocated
Total EPRA NTA movement in the year
(3.3)
(210.5)
(0.3)
The £3.3 million other balance within the unallocated segment includes the purchase of own shares of (£1.7 million),
contributions to the Unite Foundation of (£0.6 million) and tax charges of (£0.9 million).
