2015/16 was a transformational year for The Ethical Property Company as we continued to grow, while maintaining our commitment to People, Planet and Profit. We are proud to continue to demonstrate that you can be a commercially successful values led business.
Most notably, we successfully completed the two largest property transactions in our history. The sale of Development House generated £19m in post-tax profits; and provided us with the funds to purchase and develop our newest Centre, The Green House in Bethnal Green, East London, which will offer twice the amount of space of its predecessor.
These transactions have delivered four direct benefits:
our balance sheet has seen a significant uplift, with the net asset value increasing by 76% to £2.85 per share
our share price has increased by 100%
it has resulted in an increase in the liquidity of our shares, with 195,800 shares sold in the four months after the sale of Development House was announced
it has enabled us to invest in our internal processes, allowing us to improve the way we do business and deliver greater impact.
Over the year we have supported over 1,000 diverse and valuable organisations working to deliver positive social, environmental and economic changes, through the provision of workspace, conference space and IT support. A key indicator of our success is that 84% of our tenants state that being in our Centres helps them achieve their objectives.
We are also pleased to have reduced our average carbon emissions per m2 by 17%. As our portfolio develops, more of our Centres will be high performing green buildings - The Green House is expected to achieve excellent energy standards; and that will have a positive impact on our overall performance.
Our strong performance is only possible given the work of our staff, who are dedicated to the Company and who have worked hard over the last year to ensure our underlying business continues to grow whilst also enabling us to secure new projects. Our people are key to our success and we are pleased to have very high staff satisfaction: 97% of staff say they enjoy working for the Company.
While we continue to present an overview of our Triple Bottom Line performance in our printed Annual Reports, we provide more detailed social and environmental data and analysis in our Performance Supplement document, which can be viewed below and is produced in an online format only. We hope that this provides a useful and transparent picture of the Company and our activities and impacts, positive and negative. It also helps us save money and resources by using less paper and making the printed Annual Report document less bulky to distribute.