Group
Mar 2025 | Mar 2024 | |
Net debt | £2.7bn | £2.2bn |
Weighted average debt maturity | 5.2 yrs | 6.1 yrs |
Weighted average interest rate | 3.2% | 2.6% |
Interest cover1 | 5.7x | 5.9x |
Loan to value2 | 31.7% | 28.5% |
Unsecured Committed facilities | £2.4bn | £2.1bn |
Of which is undrawn and cash | £1.8bn | £1.9bn |
Group senior unsecured credit rating | A | A |
1 Underlying profit before interest and tax / net interest
2 Debt to property and investments
Group and share of joint ventures
Mar 2025 | Mar 2024 | |
% of debt at fixed/capped interest rates (spot) | 100% | 100% |
% of debt at fixed/capped interest rates over 5 years (average) | 77% | 86% |
Net debt3 | £3.6bn | £3.3bn |
Weighted average debt maturity | 5.0 yrs | 5.8 yrs |
Weighted average interest rate | 3.6% | 3.4% |
Interest cover1 | 3.7x | 3.5x |
Loan to value2 | 38.1% | 37.3% |
1Underlying profit before interest and tax / net interest
2Debt to property and investments
3Adjusted net debt £3.6bn (31 March 2024, £3.3bn). Adjusted net debt differs from IFRS net debt by excluding the mark to market on commercially effective derivatives and related debt instruments.