Eight firms win gold in Epra annual report survey

Major UK companies dominate this year's edition of the European Public Real Estate (Epra) awards with British Land, Land Securities, Hammerson, Segro and Great Portland Estates all winning gold awards. The other gold winners were Finland's Citycon and Netherlands-listed funds Vastned Office/Industrial and Vastned Retail.

The Epra awards are based on compliance with the association's Best Practices Recommendations (BPR) that promote consistency and transparency in reporting by the sector across Europe. The review of the annual reports was carried out by business advisory firm Deloitte. The minimum criterium for an annual report being accredited was the inclusion of at least one of the three key Epra metrics - EPS, NAV and NNNAV.

Companies in a total of 10 of the 12 countries represented in the index received an award. Nine companies won silver awards, and 12 were awarded bronze. French real estate firm Klepierre, a silver winner, was also presented with the award for 'Most Improved Annual Report'.

Claire Faulker, real estate audit partner at Deloitte, said: 'The results of the 2009/10 annual report survey demonstrate the success Epra has had in raising the bar of real estate financial reporting across Europe and that foundations are there for future development'.

The survey also conducted an initial review of sustainability reporting. Faulkner said that only 36% of all companies referred to carbon reduction targets in their annual reports. However, she noted many companies publish separate sustainability reports.

Click on the link below to read the full survey report