Revenue and cost of sales An analysis of the Group's revenue and cost of sales is as follows: 2011 2010 £'000 £'000 61,715 52,583 Investment property rental income 641 14,083 Trading property sales 1,436 1,161 Property management fees 63,792 67,827 Revenue Direct operating expenses relating to investment properties that generated rental (10,927) (11,702) income Direct operating expenses relating to investment properties that did not generate (193) - rental income (11,895) (10,927) Direct operating expenses (809) (11,084) Cost of sales of trading properties (22,011) (12,704) Cost of sales 51,088 45,816 Gross profit Total revenue as defined in IAS 18 of £65,183,000 (2010: £68,427,000) includes £1,391,000 (2010: £600,000) interest income.
Revenue and cost of sales An analysis of the Group's revenue and cost of sales is as follows: 2011 £'000 2010 £'000 Investment property rental income 61,715 52,583 Trading property sales 641 14,083 Property management fees 1,436 1,161 Revenue 63,792 67,827 Direct operating expenses relating to investment properties that generated rental income (11,702) (10,927) Direct operating expenses relating to investment properties that did not generate rental income (193) - Direct operating expenses (11,895) (10,927) Cost of sales of trading properties (809) (11,084) Cost of sales (12,704) (22,011) Gross profit 51,088 45,816 Total revenue as defined in IAS 18 of £65,183,000 (2010: £68,427,000) includes £1,391,000 (2010: £600,000) interest income.
Full%20Year%20Results%202011.docx