Capital and Regional PLC (CAL) 2004年年度报告「LSE」.pdf

1、Capital&Regional plc Annual report 2004Annual report 2004Contents1Capital&Regionalwhat we do2Financial highlights3Chairmans statement4Chief and Deputy Chief Executives review6Finance Directors review10Operating review shopping centres14Operating review retail parks18Operating review leisureManagemen

2、t,governance andcorporate social responsibility22Directors24Advisers and corporate information25Directors remuneration report29Directors report32Corporate governance report35Corporate social responsibility36Statement of directors responsibilities37Independent auditors reportFinancial statements38Con

3、solidated profit and loss account39Consolidated balance sheet40Statement of total recognised gains and lossesNote of historical cost profits and lossesReconciliation of movements in equity shareholders funds41Consolidated cash flow statement42Company balance sheet43Notes to the accountsAdditional in

4、formation67Property under managementFund portfolio information68Five-year reviewShareholders information69Glossary of termsCapital&Regional.what we doC&R is a co-investing property asset manager.This means that wemanage property assets for funds in which we hold a significant stakeThis enables our e

5、quity and management to be leveraged over a largeportfolio and enhances returns to shareholdersWe aim to build best-of-class specialist management teams for theretail and leisure sectors in which we operateCapital&Regional 1Financial highlights2 Capital&RegionalGroup exposure to property by sector(%

6、)19951996199719981999200020012002200320046005004003002000100Pence per share700800199519961997199819992000200120022003200415129630Pence per shareDividend growthGrowth in adjusted fully diluted net asset value(NAV)per share19951996199719981999200020012002200320042,0001,5001,0005004,5002,5000Property v